EXPOSE: St James House – which assets are the auditors probably most concerned about? What will see the shares suspended and why the shares are worthless
A 17th March “COVID-19 update” from cinema group Everyman Media (EMAN) stated “the group has significant headroom in its loan facility and is in dialogue with its lenders on covenants to maintain liquidity through this period of uncertainty”. Now “the company has conditionally placed 17,500,000 ordinary shares at the placing price of 100 pence per ordinary share… together with our existing funding arrangements, this placing significantly strengthens our balance sheet providing further working capital and allows us to pick up where we left off”. Hmmm...
A 12pm “COVID-19 update” from cinema group Everyman Media (EMAN) includes “trading over recent days has been impacted by COVID-19 and the delay of major movie releases” and now, “following guidance provided by the UK government yesterday, the board of Everyman has taken the decision to close its venues to guests until further notice”…
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