MERCHANT HOUSE GROUP PLC 
By 3 April 12
Update on Financial Condition
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 £761,500 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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| This press release was issued by Merchant House Group plc and was initially posted at http://www.merchanthousegroup.com/rns/update-on-financial-condition . It was distributed, unedited and unaltered, by noodls on 2012-04-03 17:54:34 PM. The issuer is solely responsible for the accuracy of the information contained therein. |
