29th Dec 2022 08:32
Vector Capital PLC - London-based commercial lending group - Renews its inter-company debt terms with Vector Holdings Ltd. Prior to Vector Capital's admission to trading on the Alternative Investment Market in 2020, it entered into a deal with Vector Holdings for a GBP3 million loan, repayable on Saturday this week.
At a company board meeting on Wednesday, the revised terms of the loan were approved, and it will now be repayable by December 2024. The interest will be paid on the outstanding balance at a rate of 6.3% per annum from 5%, and the interest rate will be renegotiated by December 2023.
Vector Holdings is the parent company of Vector Capital and holds a 75% interest in the company.
Current stock price: 42.70 pence
12-month change: down 1.8%
By Jaskeet Briah, Alliance News reporter
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