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Bonhill Group PLC - London-based media company specialising in business information, events and data analytics - Expects revenue of £16.4 million in 2021 and earnings before interest, tax, depreciation and amortisation breakeven. In 2020, the company reported revenue of £17.8 million and an adjusted Ebitda loss of £100,000. Notes an expected impairment charge of £6.1 million relating to its US operations as a result of a drop off in fourth quarter performance and management changes. Adds that 2022 has started ‘positively’.
Proposes to raise £1.1 million for working capital purposes through the issue of shares at a price of 5.5 pence in a placing and open offer. Says the price represents a 19% discount to the closing mid-market price of a Bonhill share on Wednesday.
Announces Simon Stilwell has resigned as chief executive with immediate effect. Appoints the company's UK managing director, Patrick Ponsford, as interim chief executive. Non-Executive Chair Jonathan Glasspool also becomes interim executive chair until a permanent CEO appointment has been made.
Current stock price: 6.11 pence
12-month change: down 54%
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