10th Dec 2020 21:32
Starcom PLC - remote tracking systems firm, headquartered in Jersey - Granted loan of ILS1.2 million, around GBP230,000, under an Israeli government-backed scheme. Loan is repayable over five-year period after the first year and attracts annual interest at a rate of 1.5% over the Israeli Prime Bank Rate. Loan is to support businesses during the pandemic
"I am delighted that the company has been approved for this loan which demonstrates confidence in the prospects for Starcom despite the Covid-19 impact. We continue to discuss and negotiate new strategic relationships which we hope will show progress during 2021," said Chief Executive Officer Avi Hartmann.
Current stock price: 0.99 pence, up 10%
Year-to-date change: down 14%
By Dayo Laniyan; [email protected]
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