15th Jan 2020 18:42
(Alliance News) - Quarto Group Inc on Wednesday said it intends to raise GBP14 million in gross proceeds through a share placing.
The book publisher will issue 20.4 million new shares at 68.00 pence each, with the proceeds from the placing to be used to reduce existing bank debt. Net proceeds for the placing are anticipated to total GBP12.8 million.
Quarto also said it is currently in talks with its lenders to extend the final repayment date of its existing facilities agreement and to extend some of its covenants.
Shares in the company closed at 75.50p each on Wednesday in London.
By Ife Taiwo; [email protected]
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