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Healthcare

BRIEF-Aston Martin Lagonda Announces Lawrence Stroll Will Join Board As Executive Chairman

March 30 (Reuters) - Aston Martin Lagonda Global Holdings PLC:

* ANNOUNCEMENT RE: RIGHTS ISSUE

* RIGHTS ISSUE TO RAISE GROSS PROCEEDS OF £536M

* RIGHTS ISSUE TO RAISE GROSS PROCEEDS OF £536M

* LAWRENCE STROLL WILL JOIN ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC BOARD OF DIRECTORS AS EXECUTIVE CHAIRMAN ON 20 APRIL 2020

* ASTON MARTIN WILL ENTER AN F1(TM) WORKS TEAM FOR FIRST TIME SINCE 1950S

* COMPANY’S FIRST SUV, DBX WILL START PRODUCTION SHORTLY AFTER RETURNING FROM COVID-19 ENFORCED SHUTDOWN

* SUV, DBX ON-TIME FOR FIRST DELIVERIES TO DEALERS IN SUMMER, DEPENDENT ON PRODUCTION & SUPPLY CHAIN RETURNING AS CURRENTLY ANTICIPATED

* DIRECTORS REMAIN CONFIDENT THAT GROUP WILL HAVE SUFFICIENT WORKING CAPITAL FOR AT LEAST NEXT 12 MONTHS

* GROSS PROCEEDS INCLUDES A PRIVATE PLACEMENT OF SHARES FOR £171M TO LAWRENCE STROLL LED YEW TREE CONSORTIUM

* HAS ACCESS TO ADDITIONAL FUNDING FACILITIES IN AGGREGATE AMOUNT OF ABOUT £150 MILLION

* REMAINS IN DISCUSSION WITH UK GOVERNMENT IN RELATION TO POTENTIAL SUPPORT PACKAGES AVAILABLE TO BUSINESSES TO TRADE THROUGH PANDEMIC

* CURRENT ORDER BOOK FOR ASTON MARTIN VEHICLES REMAINS SIGNIFICANT

* TEMPORARY SUSPENSION OF ALL PRODUCTION AT BOTH GAYDON AND ST ATHAN FACILITIES FROM 25 MARCH 2020

* STAFF ARE NOW WORKING FROM HOME AND PROCESS OF FURLOUGHING EMPLOYEES AS APPROPRIATE HAS COMMENCED

* UTILISING ALL GOVERNMENT AID AVAILABLE

* RENEWING AND ACCESSING ADDITIONAL FUNDING FACILITIES

* TAKING ACTIONS TO CONTROL & RE-PHASE BOTH OPERATING COSTS (SUCH AS MARKETING) & CAPITAL EXPENDITURE

* SUV, DBX WILL START PRODUCTION SHORTLY AFTER RETURNING FROM COVID-19 ENFORCED SHUTDOWN, WITH AN ORDER BOOK NOW EXCEEDING 2,000 UNITS

* HAVE A FIRM FORWARD ORDER BOOK FOR OUR CORE SPORTS CARS, WHICH INCLUDES STRONG INITIAL ORDERS FOR OUR NEW VANTAGE ROADSTER

* ALL NEW V6 HYBRID POWERTRAIN IS ALREADY WELL ADVANCED IN DEVELOPMENT AND WILL ENTER PRODUCTION WITH VALHALLA SUPERCAR Source text for Eikon: Further company coverage:

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