ALY.L

Laura Ashley Holdings Plc
Ashley (Laura) Hldgs - Financing Update
19th February 2020, 12:35
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RNS Number : 4969D
Ashley (Laura) Hldgs PLC
19 February 2020
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 ("MAR").

 

19 February 2020

 

For immediate release

 

LAURA ASHLEY HOLDINGS PLC

 

Financing Update 

 

Further to the announcement on 16 February 2020 in response to press speculation, the board of Laura Ashley Holdings PLC (the "Company" and, together with its subsidiaries, the "Group") is pleased to announce that discussions between Wells Fargo and MUI Asia Limited relating to the Group's immediate funding requirements have concluded and the Group should be able to utilise requisite funds from its working capital facility with Wells Fargo to meet its immediate funding requirements.  As previously announced, this is not a cash injection by MUI Asia Limited into the Group.

 

The Company welcomes the support from MUI Asia Limited and continues to review its working capital needs on an ongoing basis.  The Company will update shareholders in due course in relation to the review of its working capital needs.

 

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Sagar Mavani, Chief Financial Officer.

 

LEI: 213800GTYRHRBJKABN84  

 

 

Enquiries:

 

KCNg/KatharinePoulter/Sagar Mavani

 

Laura Ashley

 

02078805100

Anita Scott / Alice Gibb

 

Brunswick

 

02074045959

Rick Thompson / Michael Boot

 

Cantor Fitzgerald Europe

 

02078947000

 


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