16th Feb 2016 09:32
LONDON (Alliance News) - Education consultancy AEC Education PLC on Tuesday said it has secured a GBP500,000 loan with a major shareholder.
AEC will get unsecured funding facility from KSP Investments Pte Ltd, which owns a 17.5% stake in the business.
The loan has been provided on the basis it will be repaid as soon as possible by AEC based on future profits made by the company. It will be used to fund working capital and ongoing work to return the company's subsidiaries to profitability.
AEC shares were untraded on Tuesday, having last traded at 1.75 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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