Milestone Group PLC : Update on October Placing

MILESTONE GROUP PLC
("Milestone" or the "Company")

Update on October Placing

Milestone (AIM: MSG), the AIM and Social Stock Exchange quoted provider of digital media, technology and social impact solutions, provides an update to the announcements made 27 February 2017 and 30 March 2017, regarding the status of the October Placing (the "Placing").

The Company commenced a legal recovery process against the counterparty to the placement shortly after the placing failed. This process was put on hold whilst the Company engaged with the counterparty in order to try and resolve the situation. 

The Company advises that whilst it is pursuing all avenues to provide a mutually acceptable solution, should such an agreement not be forthcoming in the near future, the Company intends to recommence legal proceedings and will issue a statutory demand on the counterparty. Further updates regarding this matter will follow shortly.

The Company continues to manage its working capital position carefully and it is expected it will need to raise further capital in the near future.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information:

Milestone Group PLC
Deborah White, Chief Executive	Tel: [phone]
Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray/Sandy Jamieson	Tel: [phone]
Hybridan LLP, Broker
Claire Louise Noyce	Tel: [phone]
Walbrook PR Limited, PR
Gary Middleton/Paul Cornelius	Tel: [phone]

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Source: Milestone Group PLC via Globenewswire