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TLA Worldwide – after more than 5 months of Australian business sale discussions… “discussions… continue”!

Published 10 days ago

TLA Worldwide (TLA) has updated that “further to the announcement of 19 December 2018, TLA confirms that its discussions relating to the sale of its Australian business continue. In order to allow these discussions to be concluded, the period of forbearance granted by SunTrust Bank has been extended to 29 August 2019. There can be no certainty that any transaction will ultimately be forthcoming, nor can there be any certainty as to the terms of any such transaction”. Hmmm…

TLA Worldwide – when you need a Nomad desperately, ‘who you gonna call?’...

Published 220 days ago

TLA Worldwide (TLA) was last week “pleased to announce that it has reached an agreement with SunTrust Bank to provide additional working capital headroom through deferment of principal and interest payments together with the waiver of covenants”. I bet it was as it had previously stated that “as a result of weak trading the group expects net debt for the 2018 full year to be significantly higher than previously anticipated and consequently is likely to breach its existing banking covenants”. Now a “Proposed Nominated Adviser Appointment” announcement…

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