Brief: Sondrel Says Cash Position Of Group Has Further Declined During December 2023

Sondrel (Holdings)

28/12/2023 15:31

Dec 28 (Reuters) - Sondrel (Holdings) PLC  SNDS.L :
    * SONDREL (HOLDINGS)  - TRADING UPDATE
    * SONDREL (HOLDINGS) PLC - CASH POSITION OF GROUP HAS
FURTHER
DECLINED DURING DECEMBER 2023
    * SONDREL (HOLDINGS) PLC - DIRECTORS AND SENIOR MANAGEMENT
HAVE
AGREED TO DEFER THEIR SALARIES AND FEES
    * SONDREL (HOLDINGS)- WITH VIEW TO MANAGING GROUP LIQUIDITY,
NEGOTIATIONS UNDERWAY WITH SUPPLIERS TO IMPROVE TERMS OF
EXISTING SUPPLY ARRANGEMENTS
    * SONDREL (HOLDINGS) PLC: £1.7M OF PAYMENTS FOR ACHIEVEMENT
OF
MILESTONE UNDER A ASIC PROJECT HAVE BEEN SUBJECT TO AN
UNEXPECTED DELAY
    * SONDREL (HOLDINGS)- 67% OF GROUP STAFF HAVE AGREED TO FULL
SALARY , FEE DEFERRAL, WITH A SIGNIFICANT ADDITIONAL NUMBER
AGREEING TO PARTIAL DEFERRAL
    * SONDREL (HOLDINGS) PLC:  NEW ASIC BUSINESS OPPORTUNITIES
IN
FINAL NEGOTIATION FOR PROJECT START IN EARLY 2024
    * SONDREL (HOLDINGS) PLC: DELAYED AUTOMOTIVE CONTRACT WILL
NOT NOW
ACHIEVE NEXT MILESTONE, BEING TAPE OUT, UNTIL LATE Q1 2024
    * SONDREL (HOLDINGS): DELAYED AUTOMOTIVE CONTRACT WILL
REQUIRE
ADDITIONAL RESOURCE TO COMPLETE, FUNDING FOR WHICH IS UNDER
DISCUSSION WITH CUSTOMER
    * SONDREL (HOLDINGS)- NEED TO SECURE ADDITIONAL CAPITAL
PRIOR TO
END OF MARCH 2024 FOR SOLUTION TO MEET CO'S SHORT-TERM WORKING
CAPITAL REQUIREMENTS

Source text for Eikon:  ID:nRSb1083Ya 
Further company coverage:  SNDS.L 

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