6 July 2016 – trading update
A poor trading update has had a negative impact on the share price, which has slumped to a level not seen since 2011. Trading for the full year us now set to be materially below expectations. Vislink’s bank has agreed to defer covenant tests until the end of July from the end of June and remains supportive. However, the fact that this is necessary is clearly worrying. A restructuring, further details of which will be provided when interim results are released, will be a drain on cash and the dividend policy will be reassessed. We have serious concerns and with many other shares trading at bargain levels at the moment we believe that it is time to SELL.