27th Jun 2016 08:26
LONDON (Alliance News) - Highway Capital PLC on Monday said it has received a loan of GBP162,000 from Widman Asset Management SA.
The loan has a two-year term and attracts 5% interest per year.
The investing company said it will use the loan in part to make a further investment in Cypriot special-purpose vehicle Mylux. Highway advanced a loan of GBP89,000 to Mylux on May 3, and the new loan of GBP120,000 will be used to make a minority investment in a medical technology company. It will attract an interest rate of 8% per year and is repayable in three months.
The balance of the loan from Widman will be used for general working capital purposes, Highway said.
Shares in Highway were trading up 22% at 14.00 pence on Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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