Summary
Superglass, the troubled Scottish insulation manufacturer, said last night it would raise fresh equity at 1p a share to see off the threat of breaching bank covenants on its pound(s)17.7 million of debt.
The Stirling-based group announced on September 5, alongside a third profit warning in six months, it hoped to achieve a capital restructuring in collaboration with lender Clydesdale Bank, which had agreed in principle to a recapitalisation. Since then the shares, 24p a year ago, have halved from 5.5p to 2.75p.See the full content of this document
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Superglass Plans to Raise Cash
Superglass s...
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