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.
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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.