TPO notes fall in share price

The People’s Operator noted the significant decline in its share price this morning.

It says that as set out in its interim results on 12 October, the board is considering further funding options and its major shareholders had stated their intention to provide further funds for growth.

It was stated that these funds would be invested as to £1m equity at a price of 16.7p per share if other shareholders were also prepared to invest £1m at the same price or in the alternative the funds would be made available as a loan on terms to be agreed with the Board.

The board does not believe that £1m is available from other shareholders at 16.7p per share but has been exploring an equity raise at a significant discount to the current share price as a preference to debt financing.

At 3:49pm: (LON:TPOP) Peoples Operator Plc The share price was -5.25p at 11.25p

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