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Ashley House continues search for new funding

Snapshot

  • Designs and builds health & social care accommodation
  • Seeking new funds to carry on trading
Healthcare

Quick facts: Ashley House PLC

Price: 1.2 GBX

AIM:ASH
Market: AIM
Market Cap: £735.02 k
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What Ashley House does

Ashley House Plc (LON:ASH)  is focused on facilities for health professionals such as primary care centres, GP surgeries, and laboratories

The company’s modular construction arm  F1 Modular recently went into administration.

How it's doing

In April, Ashley House said it is still seeking the funding it needs to meet its ongoing working capital requirements and to support its affordable housing strategy, while it continues to urgently pursue legal remedies to recover long overdue receivables in excess of £1mln.

Discussions are underway with potential equity investors, although difficulties and uncertainty caused by the Covid-19 pandemic is inevitably causing delay both to the potential equity raise and to trading in general, Ashley House said in a statement.

The company is seeking support from its bankers under the Coronavirus Business Interruption Loan Scheme. If ultimately unsuccessful or not achieved in timely fashion and in the absence of other sources of funding, the company will not be able to continue to trade. 

Inflexion points

  • Recovery of money owed by debtor
  • Facing closure unless it raises more funds through coronavirus support scheme

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Watch

Ashley House working hard to build out its pipeline of community care schemes

Ashley House PLC's (LON:ASH) Antony Walters gives some detail around contracts they've signed to start work on a further two community care schemes. Financial close has been achieved on two Morgan Ashley schemes - one being a 75 apartment extra care scheme in Freshwater, Isle of Wight and...

on 23/5/19

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