29th Jan 2019 12:14
LONDON (Alliance News) - Idox PLC on Tuesday said it extended an existing banking facility with Royal Bank of Scotland PLC and Silicon Valley Bank.
The facility includes a revolving credit facility, which was upped to GBP24.5 million from GBP23.0 million until June, when it will revert back. It was agreed in 2014 for a four-year period and then extended to February 2020.
The facility also included a GBP17.0 million term loan, which will be reduced by GBP1.3 million on April 30.
"This extension gives Idox a strong platform to continue refocussing its operations and allows the group time to consider longer-term financing alternatives," the company said.
Idox shares were trading up 0.2% at 33.00 pence each.
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