Back to all announcements

DJ FT8 plc General Update

 
TIDMGFT 
 
FT8 plc 
                           ("FT8" or the "Company") 
 
                                General Update 
 
Working Capital Update 
 
FT8 confirms that further to the announcement of 15 December 2016, Billyst 
Holdings Pty Limited ("Billyst") has defaulted on its agreement to advance 
monthly payments to FT8. FT8 is seeking assurances from Billyst and its funder 
that funds will be advanced in the next week without which the working capital 
position of the Company will remain severely constrained. Further updates will 
be provided next week. 
 
Circular Update 
 
Further to the announcement of 21 December 2016, in which the Company confirmed 
it intends to dispatch a circular to shareholders to seek shareholder approval 
for a re-organisation of the Company's share capital to reduce the nominal 
value of each ordinary share from GBP0.01 to GBP0.001, the Company confirms that 
they are working to produce the draft and further updates will be provided in 
due course. 
 
Enquiries: 
 
Phillip Pryor, FT8 (UK) Plc             +60 19 212 8026 
 
Sean McShane, FT8 (UK) Plc              +18 172 718 169 
 
Katy Mitchell, WH Ireland Limited       +44 161 832 2174 
 
 
 
END 
 

(END) Dow Jones Newswires

February 10, 2017 10:50 ET (15:50 GMT)