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Stanley Gibbons assessing funding options

A number of alternatives are under consideration to reinforce its working capital position
Stanley Gibbons assessing funding options
Weakness its Asia and difficult market conditions for high-value stock have hampered Gibbons.

Shares in stamp and collectibles specialist Stanley Gibbons (LON:SGI) hit the skids as it flagged plans for a fundraising.

A number of alternatives are under consideration it said, to reinforce the working capital position before the next year end in March.

New equity is one option, but the discount to the group's net asset value makes that a relatively unattractive route compared to the other alternatives, it said.

In November, Gibbons scrapped its interim dividend as profits tumbled to £0.4mln from £3.7mln.

The firm had already cautioned that weakness its Asia and difficult market conditions for some of its more high-value stock would affect full year numbers.

Shares fell 10% to 61.7p.

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October 03 2016

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