Brief: Bowleven Proposes Open Offer To Secure Additional Funding
27/03/2024 07:33
March 27 (Reuters) - Bowleven PLC BLVN.L :
* BOWLEVEN PLC - GROUP NEEDS ADDITIONAL FUNDING TO SUPPORT
REDUCED
COST BASE WE HAVE IMPLEMENTED DURING 2023 GOING FORWARD
* BOWLEVEN PLC - PROPOSED OPEN OFFER TO SECURE ADDITIONAL
FUNDING
* BOWLEVEN PLC - THERE IS UNCERTAINTY OVER LENGTH OF
COMPANY'S
CASH RUNWAY AS JV PARTNERS ARE UNABLE TO FORECAST HOW RAPIDLY
PROGRESS WILL BE MADE
* BOWLEVEN PLC - ABSENT COMPLETION OF OPEN OFFER, BOARD
EXPECTS
THAT BOWLEVEN'S EXPENDITURE WILL EXCEED ITS CURRENT LIQUID FUNDS
DURING Q2 OF 2024
Source text for Eikon: ID:nRSa4074Ia
Further company coverage: BLVN.L
((Reuters.Briefs@thomsonreuters.com;;))