Mobilewave Group PLC Update on Financing (9255F)
May 30 2013 - 9:56AM
UK Regulatory
TIDMMBW
RNS Number : 9255F
Mobilewave Group PLC
30 May 2013
30 May 2013
MobileWave Group PLC
("MobileWave" or the "Company")
Update on Financing
The Board of MobileWave has been advised that the transaction,
disclosed to shareholders on 30 April, is proceeding and that the
Asian based investment group expect to make the investment into the
Company in June 2013. As mentioned previously, the funding
arrangement is dependent on a complex series of transactions which
require a number of variables to be completed. The Board is
frustrated that its expectations to announce firm funding have been
delayed but remain confident of being in a position to make a
positive statement shortly. Until the investment into the Company
has been made, the Directors believe it is prudent that trading in
the Company's shares remain suspended.
The Board, in consultation with the Company's advisors, continue
to explore a range of strategic options for MobileWave, all of
which are dependent on receiving new funding. Shareholders will be
kept appropriately informed as these options develop.
For further information, please contact:
MobileWave Group plc
Rory Stear, Chairman (rstear@mobilewave.com)
Charles Stanley Securities, nominated adviser and broker:
Dugald J Carlean / Carl Holmes 020 7149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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