RNS Number : 0229K
Rockpool Acquisitions PLC
17 April 2020
Press release
17th April 2020
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Rockpool Acquisitions Plc
("Rockpool" or "the Company")
Completion of £50,000 Secured Loan
The Board of Rockpool is pleased to report that the Company has obtained a £50,000 secured loan facility from the pension fund of one of its directors, Mike Irvine. The 12-month facility, which attracts interest at a rate of 10% per annum, will enable the Company to meet its anticipated cash requirements for at least the next 3 months.
The Board is also pleased to report that the latest projections provided by the management of Greenview Gas Limited and its subsidiaries ("Greenview") show that, notwithstanding the effects that the Covid-19 epidemic are likely to have on its business, they expect revenues to be strong in the current financial year and for the group to generate EBITDA of in excess of £1.39m in that period.
Greenview and the Board are continuing discussions with potential providers of both debt and equity with a view to obtaining funding to enable Greenview to meet its requirements for working capital and to refinance existing debt, and to enable the Company to have the suspension of its shares lifted.
The Board of the Company will update the market further as and when necessary.
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