29th Apr 2019 13:40
LONDON (Alliance News) - Technology and software investment company KRM22 PLC said Monday that unit KRM22 Central Ltd has entered into a new five-year EUR11.55 million debt facility with Harbert European Growth Capital Fund II.
The company said the debt facility will support future business growth and allow the company to pursue its pipeline of investment targets. It has drawn down an initial GBP1 million from the facility. The interest rate payable on GBP1 million drawn down is 11% per annum and the higher of 11% or 11% plus one year EUR Libor for additional drawdowns.
KRM22 CEO & Executive Chair Keith Todd said: "The facility will help us deliver our investing policy as outlined at IPO and will underpin the growth of the global risk platform."
Earlier in April, RM22 raised GBP1.8 million though a share placing and subscription for the general working capital requirements. The company issued 1.6 million shares at a price of 85 pence each.
Shares in KRM22 were trading 3.7% lower at 79.00 pence each on Monday afternoon.
Related Shares:
Krm22 Plc