Snacktime PLC Update on banking and fundraising (2253B)
April 02 2013 - 2:00AM
UK Regulatory
TIDMSNAK
RNS Number : 2253B
Snacktime PLC
02 April 2013
SnackTime plc ("SnackTime" or the "Company")
2 April 2013
Update on banking and fundraising
In its announcement on 15 February 2013, SnackTime announced
that it was in discussions with its bank regarding extending the
term of its loan and to revise its banking covenants which it
expected to conclude before the end of March 2013. In addition, it
announced that it was in discussions with certain of its larger
shareholders regarding the proposed issue of GBP800k of 5 year
convertible loan notes to provide funds for the Company, the terms
of which were still to be finalised.
Further to the announcement above, the Company announces today
that it is in receipt of a new banking facility offer including
revised covenants and is very close to agreeing its terms. The
Company is also finalising the issue of loan notes to raise GBP1.0
million. A further announcement setting out full details of the new
facility and issue of loan notes will be made shortly.
For further information:
SnackTime PLC
Jeremy Hamer, Chairman
Tim James, Finance Director 0208 879 8300
Westhouse Securities
Tom Griffiths 020 7601 6100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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