24th Mar 2022 13:59
Mobile Tornado Group PLC - Harrogate, England-based communications company - Extends its revolving loan facility with telecommunications service provider InTechnology PLC by a further 12 months to September 26, 2023. Says it has also increased the maximum principal amount which can be drawn to GBP500,000 from GBP300,000. Notes that the terms of the facility remain unchanged. Plans to use the additional capital to support the financing of its continued investment in research-and-development activities, and in particular the development of its comprehensive resource management platform.
In the past, Mobile Tornado has extended the loan facility for an additional 12 months in September 2020 and September 2021.
Current stock price: 0.87 pence, down 33% on Thursday
12-month change: down 81%
By Abby Amoakuh; [email protected]
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