31st Mar 2021 11:26
Fuller, Smith & Turner PLC - London-based pub and hotel company - Proposes GBP53.6 million placing of 6.5 million new shares, representing 20% of existing share capital. Shares to be priced at 830 pence, a 4.6% discount to Tuesday's closing price of 870p. Extends maturity of refinancing of existing debt facilities to February 2023, conditional on completion of placing. Monthly cash burn is averaging GBP4 million to GBP5 million per month during lockdown. The company to take phased approach to reopening pubs and hotels after restrictions lifted.
Current stock price: 858.00 pence
Year-to-date change: up 23%
By Ivan Edwards; [email protected]
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