ALY Ashley (laura) Holdings Plc

TIDMALY

RNS Number : 4969D

Ashley (Laura) Hldgs PLC

19 February 2020

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 596/2014 ("MAR").

19 February 2020

For immediate release

LAURA ASHLEY HOLDINGS PLC

Financing Update

Further to the announcement on 16 February 2020 in response to press speculation, the board of Laura Ashley Holdings PLC (the "Company" and, together with its subsidiaries, the "Group") is pleased to announce that discussions between Wells Fargo and MUI Asia Limited relating to the Group's immediate funding requirements have concluded and the Group should be able to utilise requisite funds from its working capital facility with Wells Fargo to meet its immediate funding requirements. As previously announced, this is not a cash injection by MUI Asia Limited into the Group.

The Company welcomes the support from MUI Asia Limited and continues to review its working capital needs on an ongoing basis. The Company will update shareholders in due course in relation to the review of its working capital needs.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Sagar Mavani, Chief Financial Officer.

LEI: 213800GTYRHRBJKABN84

Enquiries:

 
 KCNg/KatharinePoulter/Sagar 
  Mavani                          Laura Ashley          02078805100 
 Anita Scott / Alice Gibb         Brunswick             02074045959 
 Rick Thompson / Michael          Cantor Fitzgerald 
  Boot                             Europe               02078947000 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

February 19, 2020 07:35 ET (12:35 GMT)

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