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Electric Word shareholders approve placing

By BFN News | 11:01 AM | Thursday 06 September, 2012


Having announced a £1.3 million placing and £500,000 open offer on 17 August 2012, Electric Word, which provides training services for the education, healthcare and sport, has announced that all of the resolutions proposed at the general meeting of the company held today were duly passed by its shareholders.

The placing and open Offer are therefore declared unconditional in all respects subject to Admission.   In addition, the company has entered into a legally binding agreement with its bank, conditional on the Firm Placing becoming unconditional in all respects, to amend the current facility agreement to make an accelerated payment of £250,000 of its existing term loan and to provide the company with improved banking terms, resulting in greater financial headroom.

 




At 11:01am: (LON:ELE) Electric Word share price was 0p at 1.8p



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