29th Jan 2019 14:33
LONDON (Alliance News) - Adams PLC on Tuesday said it secured a GBP3.0 million loan from its largest shareholder, Blake Holdings Ltd.
The loan facility may be drawn down by the company in minimum tranches of GBP500,000 and has no fixed term, but is repayable in full, or in part, six months after any repayment notice issued by either the lender or the company.
Interest accrues daily at a rate of 7.0% per year.
Adams shares were untraded at 1.50 pence each on Tuesday.
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