Brief: Purplebricks Says Return To Cash Generation In Early FY24 Unlikely

Purplebricks

09/05/2023 07:25

May 9 (Reuters) - Purplebricks Group PLC  PURP.L :
    * PURPLEBRICKS GROUP  - TRADING UPDATE & UPDATE ON STRATEGIC
REVIEW & FSP
    * NECESSARY TO CONCLUDE STRATEGIC REVIEW AND FORMAL SALE
PROCESS
PROMPTLY
    * GROUP EXPECTS TO HAVE FINISHED FINANCIAL YEAR ENDED 30
APRIL
2023 IN LINE WITH MANAGEMENT EXPECTATIONS
    * BOARD NOW EXPECTS THAT PREVIOUSLY ANTICIPATED RETURN TO
CASH
GENERATION IN EARLY FY24 IS UNLIKELY
    * A SMALL NUMBER OF PARTIES REMAIN IN DISCUSSIONS WITH GROUP
IN
RELATION TO SALE OF COMPANY
    * OPTION OF AN EQUITY FUND RAISE HAS BEEN REVISITED BUT IS
STILL
CONSIDERED TO LACK NECESSARY SUPPORT
    * AT PRESENT, IF CONTEMPLATED DEAL CONCLUDES, WOULD DELIVER
RETURNS TO SHAREHOLDERS MATERIALLY BELOW CURRENT SHARE PRICE

Source text for Eikon:  ID:nRSI7202Ya 
Further company coverage:  PURP.L 

 ((Reuters.Briefs@thomsonreuters.com;))