Milestone Group PLC Milestone Group Plc : Update On October Placing

 
TIDMMSG 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Update on October Placing 
 
   Milestone (AIM: MSG), the AIM and Social Stock Exchange quoted provider 
of digital media, technology and social impact solutions, provides an 
update to the announcements made 27 February 2017 and 30 March 2017, 
regarding the status of the October Placing (the "Placing"). 
 
   The Company commenced a legal recovery process against the counterparty 
to the placement shortly after the placing failed. This process was put 
on hold whilst the Company engaged with the counterparty in order to try 
and resolve the situation. 
 
   The Company advises that whilst it is pursuing all avenues to provide a 
mutually acceptable solution, should such an agreement not be 
forthcoming in the near future, the Company intends to recommence legal 
proceedings and will issue a statutory demand on the counterparty. 
Further updates regarding this matter will follow shortly. 
 
   The Company continues to manage its working capital position carefully 
and it is expected it will need to raise further capital in the near 
future. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   For further information: 
 
 
 
 
Milestone Group PLC 
Deborah White, Chief Executive                   Tel: 0207 929 7826 
 
Cairn Financial Advisers LLP, Nominated Adviser 
Liam Murray/Sandy Jamieson                       Tel: 0207 213 0880 
 
Hybridan LLP, Broker 
Claire Louise Noyce                              Tel: 0203 764 2341 
 
Walbrook PR Limited, PR 
Gary Middleton/Paul Cornelius                    Tel: 0207 933 8780 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/

(END) Dow Jones Newswires

June 20, 2017 02:00 ET (06:00 GMT)

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