March 30 (Reuters) – Aston Martin Lagonda Global Holdings PLC:
* ANNOUNCEMENT RE: RIGHTS ISSUE
* RIGHTS ISSUE TO RAISE GROSS PROCEEDS OF £536M
* RIGHTS ISSUE TO RAISE GROSS PROCEEDS OF £536M
* LAWRENCE STROLL WILL JOIN ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC BOARD OF DIRECTORS AS EXECUTIVE CHAIRMAN ON 20 APRIL 2020
* ASTON MARTIN WILL ENTER AN F1(TM) WORKS TEAM FOR FIRST TIME SINCE 1950S
* COMPANY’S FIRST SUV, DBX WILL START PRODUCTION SHORTLY AFTER RETURNING FROM COVID-19 ENFORCED SHUTDOWN
* SUV, DBX ON-TIME FOR FIRST DELIVERIES TO DEALERS IN SUMMER, DEPENDENT ON PRODUCTION & SUPPLY CHAIN RETURNING AS CURRENTLY ANTICIPATED
* DIRECTORS REMAIN CONFIDENT THAT GROUP WILL HAVE SUFFICIENT WORKING CAPITAL FOR AT LEAST NEXT 12 MONTHS
* GROSS PROCEEDS INCLUDES A PRIVATE PLACEMENT OF SHARES FOR £171M TO LAWRENCE STROLL LED YEW TREE CONSORTIUM
* HAS ACCESS TO ADDITIONAL FUNDING FACILITIES IN AGGREGATE AMOUNT OF ABOUT £150 MILLION
* REMAINS IN DISCUSSION WITH UK GOVERNMENT IN RELATION TO POTENTIAL SUPPORT PACKAGES AVAILABLE TO BUSINESSES TO TRADE THROUGH PANDEMIC
* CURRENT ORDER BOOK FOR ASTON MARTIN VEHICLES REMAINS SIGNIFICANT
* TEMPORARY SUSPENSION OF ALL PRODUCTION AT BOTH GAYDON AND ST ATHAN FACILITIES FROM 25 MARCH 2020
* STAFF ARE NOW WORKING FROM HOME AND PROCESS OF FURLOUGHING EMPLOYEES AS APPROPRIATE HAS COMMENCED
* UTILISING ALL GOVERNMENT AID AVAILABLE
* RENEWING AND ACCESSING ADDITIONAL FUNDING FACILITIES
* TAKING ACTIONS TO CONTROL & RE-PHASE BOTH OPERATING COSTS (SUCH AS MARKETING) & CAPITAL EXPENDITURE
* SUV, DBX WILL START PRODUCTION SHORTLY AFTER RETURNING FROM COVID-19 ENFORCED SHUTDOWN, WITH AN ORDER BOOK NOW EXCEEDING 2,000 UNITS
* HAVE A FIRM FORWARD ORDER BOOK FOR OUR CORE SPORTS CARS, WHICH INCLUDES STRONG INITIAL ORDERS FOR OUR NEW VANTAGE ROADSTER
* ALL NEW V6 HYBRID POWERTRAIN IS ALREADY WELL ADVANCED IN DEVELOPMENT AND WILL ENTER PRODUCTION WITH VALHALLA SUPERCAR Source text for Eikon: Further company coverage: