Rescue cash call by Quadrant
Saturday 12 April 1997
The difficulties relate to the imminent need to repay loan commitments to Carlton Communications. A rescheduling of the loan had been agreed with Carlton but was conditional on the placing and open offer taking place, the company said. "Shareholders should be aware that if the placing and open offer does not proceed the agreement with Carlton amending the terms of its loan would fall away and in these circumstances the directors believe that the company would be unable to continue trading."
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