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Tuesday, 20 June 2017

Milestone Group PLC : Update on October Placing

     

Published: 08:00 CEST 20-06-2017 /GlobeNewswire /Source: Milestone Group PLC / : MSG /ISIN: GB0033127910

Milestone Group PLC : Update on October Placing

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 (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Milestone Group PLC, 1st Floor 2 Royal Exchange Steps, London EC3V 3DG, United Kingdom
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