StockMarketWire.com - Event organiser Hyve said it had undertaken a large-scale postponement of events amid various restrictions that had been, or were likely to be, put in place by governments in many of its respective markets. The company also said it remained in talks with lenders about beefing up its credit lines.

The postponement was larger than had been anticipated at the time of its 5 March coronavirus update, the company said, and warned that should the situation deteriorate, further events would need to be moved.

'We are in constructive dialogue with our lenders in relation to covenant headroom and facility flexibility,' Hyve said. 'We have access to total committed debt facilities of £250m which we have fully drawn in order to maximise flexibility in terms of short-term liquidity, providing the Group with significant cash resources at hand,' it added.

'In line with other event organisers, and given the speed with which the situation is developing, the group will no longer be giving guidance.'




At 10:08am: [LON:HYVE] Hyve Group PLC share price was -0.27p at 22.28p



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