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Healthcare

BRIEF-Joules Group Undertaking Placing Intending To Raise Gross Proceeds Of £15M

April 2 (Reuters) - Joules Group PLC:

* UNDERTAKING A PLACING INTENDING TO RAISE GROSS PROCEEDS OF £15M THROUGH ISSUANCE OF NEW ORDINARY SHARES OF 1 PENCE EACH

* ALL BOARD MEMBERS HAVE TAKEN TEMPORARY SALARY REDUCTIONS ALONG WITH CERTAIN SENIOR MANAGEMENT

* ACTIONS TAKEN IN ORDER TO CONSERVE CASH WILL RESULT IN PERMANENT CASH SAVINGS FOR BUSINESS OF C.£53M

* GROUP’S E-COMMERCE CHANNEL HAS ALSO BEEN IMPACTED, AS CONSUMERS HAVE SHOWN INCREASING CAUTION WITH THEIR DISPOSABLE INCOME

* EXPECTS COVID-19 TO CONTINUE TO HAVE A MATERIAL IMPACT ON RETAIL INDUSTRY AND ITS BUSINESS OVER COMING MONTHS

* GROUP’S E-COMMERCE CHANNEL HAS BEEN IMPACTED BY VIRUS, AS CONSUMERS HAVE SHOWN INCREASING CAUTION WITH THEIR DISPOSABLE INCOME

* SINCE STORE CLOSURES ONLINE TRADING HAS BEEN AHEAD OF GROUP’S REVISED EXPECTATIONS

* RECEIVED AGREEMENT IN PRINCIPLE BARCLAYS BANK, FOR £15M ADDITIONAL HEADROOM ON CO’S RCF FOR 12 MONTHS SUBJECT TO PLACING Source text for Eikon: Further company coverage:

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