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07 Jun 2019 | 13:13

Modern Water mulls funding options to meet working capital shortfall

Water treatment group Modern Water said it needed to raise capital due to weaker cash flows.

The company said it was engaged with a number of potential funding parties with a view to providing the working capital needed, which may or may not include a new equity issue.

'Despite positive indicators as disclosed in the recent annual report, cash flows have been slower than anticipated from the membranes division and, consequently, additional working capital will be required in the short-term to meet the group's requirements,' Modern Water said.

The monitoring division, meanwhile, continued to trade in line with expectations.

At 1:13pm: (LON:MWG) Modern Water PLC share price was -0.6p at 3.53p

Story provided by StockMarketWire.com
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