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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