Rescue cash call by Quadrant
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Quadrant Group announced a capital reorganisation and plans to raise pounds 5.6m through a placing and open offer of 5.6 million shares to stave off collapse. The maker of electronic video and precision-engineered products said the 100p-per-share offer price was pitched at a 23 per cent discount to current mid-market prices "due to financial difficulties".
The difficulties relate to the imminent need to repay loan commitments to Carlton Communications. A rescheduling of the loan had been agreed with Carlton but was conditional on the placing and open offer taking place, the company said. "Shareholders should be aware that if the placing and open offer does not proceed the agreement with Carlton amending the terms of its loan would fall away and in these circumstances the directors believe that the company would be unable to continue trading."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments