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| Sanctuary faces financial charges ahead of fundraising |
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posted by davidt
on Tuesday December 06 2005, @11:00AM
Belligerent Ghoul sends the links:
Sanctuary faces charges ahead of fundraising
- Times Online
Sanctuary, the struggling music publishing group that is home to Elton John, Beyonce and Morrissey, is facing one-off charges that could reach £170 million as it prepares to pursue a crunch equity fundraising expected to total about £100 million.
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Sanctuary planning £130m rescue rights
- The Independent
Sanctuary, the embattled music group behind artists such as Sir Elton John and Beyonce, has appointed the corporate finance firm Evolution to oversee an equity fund-raising of between £100m and £130m, expected later this month or in the New Year.
The highly indebted company, which has a market value of just £12m, is expected to make an announcement today. The share placing will have to be deeply discounted and will almost wipe out existing shareholders...
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Oh lord! I hope Morrissey doesn't own any of those shares or we'll have to listen to 5 more, "I was screwed in court" songs.