PR Newswire
London, February 10
FT8 plc
("FT8" or the "Company")
General Update
Working Capital Update
FT8 confirms that further to the announcement of 15 December 2016, Billyst Holdings Pty Limited ("Billyst") has defaulted on its agreement to advance monthly payments to FT8. FT8 is seeking assurances from Billyst and its funder that funds will be advanced in the next week without which the working capital position of the Company will remain severely constrained. Further updates will be provided next week.
Circular Update
Further to the announcement of 21 December 2016, in which the Company confirmed it intends to dispatch a circular to shareholders to seek shareholder approval for a re-organisation of the Company's share capital to reduce the nominal value of each ordinary share from £0.01 to £0.001, the Company confirms that they are working to produce the draft and further updates will be provided in due course.
| Enquiries: | |
| Phillip Pryor, FT8 (UK) Plc | +60 19 212 8026 |
| Sean McShane, FT8 (UK) Plc | +18 172 718 169 |
| Katy Mitchell, WH Ireland Limited | +44 161 832 2174 |
