"John Bridgeman has been advised that JB Financial and Partners For Growth are in dispute following an alleged breach of the Finance Facility. JB Financial has advised John Bridgeman that it has met all payment obligations under the Finance Facility and, indeed, is ahead on scheduled payments.
JB Financial has also advised John Bridgeman that, given its other business objectives, it is seeking to refinance all finance lines and is progressing potential opportunities to do so. Negotiations are currently confidential, non-binding and indicative, and have not yet progressed to an announcement stage. However, John Bridgeman expects to make announcements with further updates in the near future."
I read "seeking to refinance" as a euphemism for "scrambling for an alternative", but perhaps that's just me.
HML Price at posting:
$1.99 Sentiment: None Disclosure: Held
