Accrol Group Holdings plc – Half year report – 31 October 2017
- Events after the balance sheet date
Placing of £18m
To support the business in its objective of getting back to profitability, the Company has successfully completed the placing of 36,000,000 new ordinary shares of nominal value of £0.001 each at a price of 50 pence per share raising gross proceeds of £18m.
The net proceeds of the Placing will be used to:
- support future working capital requirements of the Group;
- implement restructuring to improve operational aspects of the business; and
- implement plans to review and improve the Group’s health & safety procedures.
HSE Court action
On the 17th January 2018 the Accrol Papers Limited was fined £120,000 for a crush injury to the tip of an employee’s right index finger. This fine has been reported as an exceptional cost in the results for the six month period under review.
- Exceptional items (extract)
Health and Safety Executive fine relates to a fine imposed by the Health and Safety Executive on 17th January 2018. This has been treated as an adjusting post balance sheet event (see note 18).