8th Jan 2016 09:47
LONDON (Alliance News) - Hosting and cloud software company Daily Internet PLC on Friday said it has repaid GBP105,000 of its 2016 convertible loan notes.
Following the repayment, it now has no further outstanding convertible loan notes, the company said. The repayment was made via its existing cash resources.
"The redemption leaves the company largely debt free, save for certain asset finance leases. The balance sheet has undergone a complete transformation in the last 18 months, which has only been possible due to the growth in the top line revenue within our managed hosting division," said Chris Evans, Daily Internet's chief executive.
Daily Internet shares were untraded on Friday, having last traded at 1.70 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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