Milestone Group plc: Your Virtual Digital Department
Results of AGM and Update on Working Capital
Milestone Group Plc
(“Milestone” or the “Company”)
Results of AGM and Update on Working Capital
The Company is pleased to announce that at the Company's Annual General Meeting (“AGM”) held earlier today, all proposed resolutions were passed.
At the AGM the Company provided an update to shareholders as to the Company’s current cash position. As at 25 March 2011 the Company had cash of £52,349 which the Board believes is sufficient to meet the Company’s current requirements for at least six weeks, on the basis that the Company continues to be able to manage the timing of settlement of its current liabilities.
As previously announced, the Company continues to be reliant on its ability to raise further funds in the immediate to short term. The Company can confirm that it is in discussions with a number of interested parties with regard to the provision of funding. However, should the Company be unsuccessful in raising further funds, this will have a material adverse effect on the Company’s financial position and operations. In the event that such activities are not successful the Company will not be able to continue trading in its current form. There can be no guarantee that such funding will be available, or on terms acceptable to the Company.
Further announcements will be made in due course.
(“Milestone” or the “Company”)
Results of AGM and Update on Working Capital
The Company is pleased to announce that at the Company's Annual General Meeting (“AGM”) held earlier today, all proposed resolutions were passed.
At the AGM the Company provided an update to shareholders as to the Company’s current cash position. As at 25 March 2011 the Company had cash of £52,349 which the Board believes is sufficient to meet the Company’s current requirements for at least six weeks, on the basis that the Company continues to be able to manage the timing of settlement of its current liabilities.
As previously announced, the Company continues to be reliant on its ability to raise further funds in the immediate to short term. The Company can confirm that it is in discussions with a number of interested parties with regard to the provision of funding. However, should the Company be unsuccessful in raising further funds, this will have a material adverse effect on the Company’s financial position and operations. In the event that such activities are not successful the Company will not be able to continue trading in its current form. There can be no guarantee that such funding will be available, or on terms acceptable to the Company.
Further announcements will be made in due course.
For further information, please contact:
Milestone Group Plc
Deborah White, Chief Executive Tel: 020 7929 7826
Strand Hanson Limited, NOMAD
Richard Tulloch / David Altberg Tel: 020 7409 3494
Hybridan LLP, Broker
Claire Louise Noyce Tel: 020 7947 4350
Copyright Milestone Group PLC 2010 | Registered in England & Wales, Company Number 4689130
