News blog
Cashbox
- BY: Andrew Hore |
- POSTED: 31/12/2008 |
Cashbox has raised £1.5m before expenses via a convertible loan note issue.
The cash machines operator managed to put out its figures for the year to June 2008 on the last day of the year in order to prevent a suspension in share trading.
The loan notes have an interest charge of 8% a year and last for five years. They are convertible at the lower of a premium of 5% over the last share price at which cash is raised or the average share price for the three dealing days prior to the date of the loan notes.
Turnover increased from £1.44m to £2.05m and the pre-exceptional loss reduced from £4.06m to £3m. Transaction revenues rose by 12%. A greater proportion of self-fill cash machines has helped to improve gross margins.
The customer base has widened from convenience stores and leisure outlets to cinemas and transportation hubs.
Net debt was £4.1m at the end of June 2008.
At 5.75p a share, Cashbox is valued at £8.31m.
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