MHG Merchant Hse

TIDMMHG

RNS Number : 6992A

Merchant House Group PLC

03 April 2012

3 April 2012

Merchant House Group plc

("MHG" or the "Company")

Update on Financial Condition

The board of MHG wishes to provide an update on its financial condition.

On 28 February 2012, MHG announced a share placing to raise GBP761,500 to support the growth and development of the business. The Company has since allocated the bulk of these monies to progress a number of projects, which are at various stages of completion. The directors anticipate that the benefits of this investment will be seen in the months ahead.

With the emphasis on business development, day-to-day working capital remains tight; the board continues to manage its resources carefully and is seeking to raise further funds to strengthen its financial position.

Further announcements will be made in due course.

For further information:

 
 Merchant House Group plc 
  James Holmes, Chairman 
  Christopher Day, CEO                  +44 (0) 20 7332 2200 
 Cairn Financial Advisers LLP 
  Tony Rawlinson / Avi Robinson         +44 (0) 20 7148 7900 
 Symvan Securities 
  Kealan Doyle / Nicholas Nicolaides    +44 (0) 20 7464 4260 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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