Crossword Cybersecurity seals GBP230,000 convertible loan agreement
16th Oct 2023 16:27
Crossword Cybersecurity PLC - London-based cybersecurity solutions provider - Enters into agreements for five year, unsecured, convertible loans to the value of GBP230,000. Explains funding will provide additional working capital as it seeks to achieve earnings before interest, tax and depreciation, and cash break-even in the second half of 2024. States the conversion price will be 8.75 pence each. Says around GBP2.2 million of the GBP2.5 million of the additional debt authorised at the general meeting of July 27 has now been utilised with no immediate plans to utilise the remaining GBP255,000. Read More