News: GFY Godfreys Group Says Co, Without Support, May Face Cash Flow Challenges In Early July

June 6 (Reuters) - Godfreys Group Ltd (GFY) :

• PRELIM INDICATIONS ARE THAT ITS BUSINESS MAY, WITHOUT FURTHER FINANCIAL SUPPORT, EXPERIENCE CASH FLOW CHALLENGES IN EARLY JULY 2018
• STARTED TALKS WITH ITS PRINCIPAL FINANCIER, 1918 FINANCE PTY, ABOUT EXTENSION TO LIMIT ON EXISTING $30 MILLION SENIOR DEBT FACILITY
• BOARD IS SEEKING ADVICE ABOUT ALL OPTIONS AVAILABLE; INCLUDING RIGHTS ISSUE
• "IT WOULD BE PRUDENT FOR SHAREHOLDERS AND INVESTORS NOT TO RELY ON PREVIOUSLY PUBLISHED EARNINGS GUIDANCE"
• 1918 FINANCE AGREED TO CONSIDER EXTENSION, BUT REQUIRES SUBSTANTIAL REPAYMENT PROPOSAL FROM CO AS PART OF SUBMISSION
• AS OF JUNE 5, ARCADE HAD RECEIVED ACCEPTANCES FROM MORE THAN 80 PERCENT OF GODFREYS SHAREHOLDERS