Market update and launch of fourth tap process
13 Dec 2021
As set out in the Q3 results, Travelex has been in discussions with shareholders about funding for 2022 to satisfy working capital increases to sustain demand as the global travel sector continues to recover from the impact of Covid-19. The financial outlook for 2022 identifies that up to £70m of new funding will be required in H1 2022 to fund both working capital and capex to deliver the planned growth. A fourth funding tap for £35m is being initiated in order that Travelex receives the requisite funds in early January 2022.
Please find for information about this market update here.