WREN Wt Rene Etf

 

TIDMWREN 
 
RNS Number : 7784S 
Wren Extra Care Group PLC 
15 September 2010 
 
 
15 September 2010 
 
 
 
                      Wren Extra Care Group plc (AIM: WREN) 
                            ("Wren" or the "Company") 
 
                                 Company update 
 
On 7 September 2010, Wren announced that it remained in discussions with a 
number of possible investors to help complete funding packages necessary to 
build the Company's Extra Care schemes. While these discussions have continued 
to progress, there can be no guarantee that the Company will be able to secure 
the necessary finance to develop its Extra Care schemes. Additionally, as stated 
previously, Wren remains in discussions with its main lender in order to extend 
the Company's working capital and other loan facilities which have been extended 
on a regular basis since 1 May 2010. 
 
The Company continues to sell units at its Warlingham, Surrey development. The 
Directors expect that the remaining two units will be sold by the end of the 
year. The Board has continued to take prudent steps to reduce the Company's 
overhead in order to conserve cash. In addition, the Board is considering the 
sale of certain, non-core properties which should generate net cash for Wren. 
Until such time as the Company is able to secure the requisite finance to begin 
developing its Extra Care schemes, it will be necessary to implement a programme 
of realising cash from non-Extra Care assets. 
 
Enquiries: 
 
+------------------------+-----------------------------------+ 
| Wren Extra Care Group  |                                   | 
| Plc                    |                                   | 
+------------------------+-----------------------------------+ 
| James Butterfield      | Tel: 01372 742 244                | 
| Corporate Development  | www.wrenhomesplc.co.uk            | 
| Director/              |                                   | 
| Mike O'Donnell         |                                   | 
| Financial Director     |                                   | 
+------------------------+-----------------------------------+ 
|                        |                                   | 
+------------------------+-----------------------------------+ 
| Shore Capital          |                                   | 
+------------------------+-----------------------------------+ 
| Pascal Keane           | Tel: 020 7408 4090                | 
+------------------------+-----------------------------------+ 
|                        |                                   | 
+------------------------+-----------------------------------+ 
| Peckwater PR           |                                   | 
+------------------------+-----------------------------------+ 
| Tarquin Edwards        | Tel: 07879 458 364                | 
+------------------------+-----------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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