20 June 2017
Milestone (AIM: MSG), the AIM and Social Stock Exchange quoted provider of digital media, technology and social impact solutions, provides an update to the announcements made 27 February 2017 and 30 March 2017, regarding the status of the October Placing (the "Placing").
The Company commenced a legal recovery process against the counterparty to the placement shortly after the placing failed. This process was put on hold whilst the Company engaged with the counterparty in order to try and resolve the situation.
The Company advises that whilst it is pursuing all avenues to provide a mutually acceptable solution, should such an agreement not be forthcoming in the near future, the Company intends to recommence legal proceedings and will issue a statutory demand on the counterparty. Further updates regarding this matter will follow shortly.
The Company continues to manage its working capital position carefully and it is expected it will need to raise further capital in the near future.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Catenae Innovation Plc
Tony Sanders
Tel: 020 7929 7826
Cairn Financial Advisers LLP, Nominated Adviser
Liam Murray/Jo Turner
Tel: 020 7213 0880
Alexander David Securities Limited, Broker
David Scott
Tel: 020 7448 9820