Hyve considering potential equity fundraise

Exhibitions and conference company Hyve confirmed on Tuesday that it is considering a potential equity fundraise as an option to secure its financial position.

Responding to recent press speculation, the company said it "continues to take decisive action and is reviewing all options to secure the group's long-term financial position". The options under review include a potential equity fundraise.

Hyve said it remains in constructive dialogue with its lenders in relation to covenant headroom and facility flexibility and has already secured a waiver of the June 2020 covenant tests under its debt facilities.

"The board remains confident that the group's strategy of focusing on market-leading events provides a strong platform to return to growth post the current crisis and its priority remains to safeguard the group's customers, colleagues and communities during this period of uncertainty," it said. A further announcement will be made if required, Hyve added.