March 13, 2020 / 4:56 PM / a month ago

BRIEF-Aston Martin Says Proposed Capital Raise Increased To 536 Mln Pounds

March 13 (Reuters) - Aston Martin Lagonda Global Holdings PLC:

* ASTON MARTIN LAGONDA - ANNOUNCEMENT RE: RIGHTS ISSUE

* ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC - PROPOSED CAPITAL RAISE INCREASED TO £536 MILLION

* ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC - PROPOSED CAPITAL RAISE INCREASED TO £536 MILLION

* ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC - NEW TERMS WILL PROVIDE FURTHER SAFEGUARDS TO COMPANY IN SHORT AND LONG TERM.

* ASTON MARTIN - RENEGOTIATED CERTAIN TERMS RELATING TO PROPOSED INVESTMENT BY CONSORTIUM LED BY LAWRENCE STROLL AND SUBSEQUENT RIGHTS ISSUE

* ASTON MARTIN - DESPITE DISRUPTION TO SUPPLY OF SOME TIER 2 COMPONENTS FROM CHINA, THERE HAS BEEN NO IMPACT ON PRODUCTION TO DATE FROM CORONAVIRUS

* ASTON MARTIN - COVID-19 NEGATIVELY IMPACTED ECONOMIC CONDITIONS GLOBALLY, HAS IMPACTED CUSTOMER DEMAND IN CHINA AND APAC

* ASTON MARTIN - SUPPLY IS SECURED UNTIL AT LEAST EARLY APRIL AND COMPANY CONTINUES TO MONITOR ITS SUPPLIERS AND INVENTORY

* ASTON MARTIN - DEALER INVENTORIES CONSEQUENTLY REDUCED BY C.300 UNITS IN FIRST TWO MONTHS OF YEAR

* ASTON MARTIN - FOR YEAR TO DATE, RETAIL SALES WERE SLIGHTLY AHEAD OF PLAN, WHOLESALES WERE IN-LINE WITH EXPECTATIONS & RESET OBJECTIVES

* ASTON MARTIN - DBX ORDER BOOK HAS CONTINUED TO BUILD YTD AND COMPANY IS NOW TAKING RETAIL ORDERS INTO 2021

* ASTON MARTIN - SHORT-TERM WORKING CAPITAL SUPPORT FROM YEW TREE, A VEHICLE CONTROLLED BY LAWRENCE STROLL, IS INCREASED TO £75.5 MILLION

* ASTON MARTIN - BOARD INTENDS TO TAKE NECESSARY STEPS TO ADJOURN INDEFINITELY 16 MARCH GENERAL MEETING

* ASTON MARTIN - LAWRENCE STROLL WILL NOW SUCCEED PENNY HUGHES AS CHAIR ON COMPLETION OF RIGHTS ISSUE WHICH IS NOW EXPECTED TO BE 20 APRIL

* ASTON MARTIN - A VEHICLE CONTROLLED BY STROLL, HAS AGREED TO PROVIDE UP TO A FURTHER £20 MILLION DURING COURSE OF NEXT FEW DAYS

* ASTON MARTIN - IT IS INTENDED THAT THIS £75.5 MILLION WILL BE SET OFF AGAINST PROCEEDS OF PLACING

* ASTON MARTIN - FOR FIRST TWO MONTHS OF YEAR, WHOLESALES EXPECTED TO BE LOWER Y-O-Y AS CO FOCUSES ON REDUCING DEALER INVENTORIES TO LUXURY NORM Source text for Eikon: Further company coverage:

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