Milestone Group plc: Your Virtual Digital Department
Working Capital Update
Milestone Group Plc
(“Milestone” or the “Company”)
Further to the announcement made on 14 April 2011, the Company confirms that it has now received a VAT rebate of approximately £50,000. In aggregate with the short-term loan of £35,000 announced on 14 April 2011, the Company now has total net cash resources of approximately £100,000. On the basis that the Company continues to be able to manage the timing of settlement of its current liabilities, the directors believe that its cash resources constitute adequate funds for at least the next eight weeks.
The directors continue to monitor carefully the working capital position of the Company and are seeking to raise further funds in the near term.
(“Milestone” or the “Company”)
Further to the announcement made on 14 April 2011, the Company confirms that it has now received a VAT rebate of approximately £50,000. In aggregate with the short-term loan of £35,000 announced on 14 April 2011, the Company now has total net cash resources of approximately £100,000. On the basis that the Company continues to be able to manage the timing of settlement of its current liabilities, the directors believe that its cash resources constitute adequate funds for at least the next eight weeks.
The directors continue to monitor carefully the working capital position of the Company and are seeking to raise further funds in the near term.
Enquiries:
Milestone Group Plc
Deborah White, Chief Executive Tel: 020 7929 7826
Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray / Avi Robinson Tel: 020 7148 7900
Hybridan LLP, Broker
Claire Louise Noyce Tel: 020 7947 4350
Milestone Group Plc
Deborah White, Chief Executive Tel: 020 7929 7826
Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray / Avi Robinson Tel: 020 7148 7900
Hybridan LLP, Broker
Claire Louise Noyce Tel: 020 7947 4350
Copyright Milestone Group PLC 2010 | Registered in England & Wales, Company Number 4689130
