Trading software firm EasyScreen last week asked
shareholders to approve measures to raise additional funds to
keep the company afloat.
The company called an extraordinary general meeting,
scheduled for last Friday, telling shareholders that "on the
directors' current projections, EasyScreen only has sufficient
working capital to meet its needs in the immediate short term".
The directors therefore sought shareholder permission to take
on up to £5m in additional debt.
Shareholders were also called to discuss the company's
falling value. From 30 May, EasyScreen's net assets had fallen
to less than half of its called up share capital, which at that
date was £1,388,386. The directors were therefore obliged
by law to convene an EGM to discuss how to deal with the
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