(RTTNews) - ReNeuron Group plc (RENE.L: News ) announced the interim results for the six months ended 30 September 2009. Loss attributable to equity owners of the company was GBP 1.86 million, compared to a loss of GBP 3.09 million in the comparable period last year. On a per share basis, net loss was 0.6p, compared to a loss of 2.0p in the prior year period.

Loss before income taxes for the period narrowed to GBP 2.02 million, from GBP 3.09 million in the year ago period.

Revenue for the period was GBP 14 thousand, up from GBP 6 thousand in the prior year period.

In a separate press release, ReNeuron Group announced that it has secured a two-year equity funding facility up to GBP 5 million from Matrix Corporate Capital LLP , the Company's joint broker.
The Flexible Use Small Capital Increase Agreement will enable the Company to service its ongoing working capital requirements by drawing on this facility, as required, over the next two years.

In the absence of any funding from other sources and allowing for the Company's existing cash resources, the facility will provide sufficient working capital to fund the Company's current operations through to mid-2011, if fully utilised over that period. The Company will, however, continue to seek additional funding from other sources where appropriate over this period, including project-related grant applications as well as further equity-based finance, the company said.

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by RTT Staff Writer

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