Ten Alps, the AIM listed TV production and marketing group in which Bob Geldof is a major shareholder, announced a major refinancing yesterday after writing down its publishing and events business assets by £10.8 million.
The group is planning to raise £4.7 million (before expenses) by means of a share issue and will supplement this with a £1.5 million loan from a major shareholder Herald Investment Management. Herald currently owns 17.4% of Ten Alps.
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