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Lombard Capital PLC - Trading Statement

·1-min read

(‘Lombard’ or the ‘Company’)

Trading Statement

The Directors wish to advise Shareholders of the following trading statement for the quarter ended 30 September 2021.

During the 3 months to 30 September 2021 the Company incurred a loss of £227,603, principally due to finance and administration costs.

As a result of the ongoing loss and all existing bonds and interest due for repayment on 31 January 2022, the Company continues to be dependent upon its ability to raise funds through directors’ loans, the issue of further bonds with a longer maturity profile, shares and conversion of warrants and other assets in order to meet operational costs and liabilities.

Gaskell House, the Company’s main asset, a waste and recycling property, is complete apart from snagging issues which are currently bring rectified and the asset is up for sale.

The sale of Gaskell will be most welcome, and the funds generated will be insufficient to repay the bonds when they come due on the 31 January 2022. However, the company is actively engaged with bond holders to extend the redemption date.

The Directors and their advisors continue to explore opportunities to re-finance the Company and secure sufficient funds to place the company on a firm footing going forward.

The directors of Lombard Capital Plc accept responsibility for this announcement.

For further information please contact:

Brent Fitzpatrick
Tel: 07718 883813

AQSE Corporate Adviser:
Alfred Henry Corporate Finance Limited
Nick Michaels: 020 3772 0021

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