William Sinclair Holdings warns of funding shortfall

Shares in William Sinclair Holdings fell over 6% on Tuesday, as the horticultural products group warned it will face a funding shortfall over the next few months.

In a short statement, the London-listed group said it undertook a detailed budgeting review, which revealed it could run out of funds over the summer and was now considering options on how to raise additional capital.

“The directors are, however, confident that, with funding, the transformation plan will lead to the necessary operational improvement needed for the long term success of the business,” the company said in a statement.

Meanwhile, William Sinclair said it has appointed Stuart Burgin as its new interim chief executive.

William Sinclair shares were down 6.12% to 23.00p at 09:48 on Tuesday.