7th Apr 2022 21:32
Bonhill Group PLC - London-based media company specialising in business information, events and data analytics - Expects revenue of GBP16.4 million in 2021 and earnings before interest, tax, depreciation and amortisation breakeven. In 2020, the company reported revenue of GBP17.8 million and an adjusted Ebitda loss of GBP100,000. Notes an expected impairment charge of GBP6.1 million relating to its US operations as a result of a drop off in fourth quarter performance and management changes. Adds that 2022 has started "positively".
Proposes to raise GBP1.1 million for working capital purposes through the issue of shares at a price of 5.5 pence in a placing and open offer. Says the price represents a 19% discount to the closing mid-market price of a Bonhill share on Wednesday.
Announces Simon Stilwell has resigned as chief executive with immediate effect. Appoints the company's UK managing director, Patrick Ponsford, as interim chief executive. Non-Executive Chair Jonathan Glasspool also becomes interim executive chair until a permanent CEO appointment has been made.
Current stock price: 6.11 pence
12-month change: down 54%
By Heather Rydings; [email protected]
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