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Nakama warns of cashflow challenges as government schemes end; board exploring options
StockMarketWire.com
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Recruitment consultancy Nakama has said it faces 'a number of trading and cashflow challenges' as the various government support schemes come to an end in the first quarter of 2021, despite recent trading in line with management expectations.
In a trading update, the company stated that market conditions remained difficult, 'particularly in light of a second wave of the pandemic and continued uncertainty following new national lockdowns'.
It said: 'It remains the board's view that as the various government support schemes are ended, the company will face a number of trading and cashflow challenges and without access to additional capital the group's working capital situation may deteriorate.'
The company said its largest shareholder had made it clear it would not support a fundraise and would vote against the necessary shareholder resolutions to issue new shares.
Nakama confirmed that the board is exploring a number of options for the company and its businesses.
At 9:51am: (LON:NAK) Nakama Group PLC share price was -0.2p at 0.5p
Story provided by StockMarketWire.com
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