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Tissue Regenix – “very pleased” lender has “shown their support for the company”. Really?!...

By Steve Moore | Thursday 14 November 2019

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Earlier this week I noted on Tissue Regenix (TRX) a further nightmare for shareholders including (natch) Neil Woodford investors – that with the company set to fail a financial covenant test and thus having to discuss with a weak hand - with also its latest results having shown it heavily loss-making with net cash down to £4.3 million - with loan facility provider MidCap Financial Trust. Now though Executive Chairman John Samuel reckons he’s “very pleased that Midcap have shown their support for the company by entering this revised agreement” – and the shares have responded further higher above 1p…

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