GROUP-5:  89   0 (0.00%)  18/09/2019 00:00

Group Five Says No Material Disposals In Current Month

Aug 21 (Reuters) - Group Five Ltd:

* MONTHLY UPDATE ON THE BUSINESS RESCUE PROCEEDINGS, DISPOSALS, POST COMMENCEMENT FINANCE AND BUSINESS RESCUE PLAN

* NUMEROUS OF DISPOSALS ARE SUBJECT TO FINAL AGREEMENTS OR CONDITIONS PRECEDENT IN ORDER TO BE CONCLUDED

* NO MATERIAL DISPOSALS IN CURRENT MONTH, WITH TOTAL PROCEEDS ONCE ALL CONDITIONS ARE MET FAIRLY STATIC AT R1,2BN ON CUMULATIVE BASIS

* BRPS CONTINUE TO GET SUPPORT FROM LENDER CONSORTIUM BY WAY OF POST COMMENCEMENT FUNDING INCLUDING BILATERAL PCF ON ONGOING PROJECTS

* PROCEEDS FROM ASSETS SUBJECT TO SECURITY AGREEMENTS TO BE USED TO REDUCE RELEVANT SECURED DEBT, BALANCE USED FOR WORKING CAPITAL NEEDS Source text for Eikon: Further company coverage:

2019-08-21 12:48:28

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