1st Apr 2016 08:32
LONDON (Alliance News) - Shares in Marlowe PLC began trading in London on Friday following a one-day delay after the group completed the acquisition of security systems provider Swift and secured a new debt facility.
Marlowe, previously investment vehicle Marlowe Holdings, agreed to buy UK-based fire protection and security systems provider Fire & Security (Group) Ltd, which trades as Swift, in February.
Shares in Marlowe PLC had been due to start trading in London on Thursday, but documentation from the Registrar of Companies in Belize was delayed, causing the company's first day of dealings on AIM to be pushed back to Friday.
Marlowe shares were up 3.7% to 140.00 pence on Friday.
The company also said it has secured GBP5.0 million in lending from Lloyds Bank PLC, split between a GBP3.0 million three-year term loan, a GBP1.5 million revolving credit facility, and a GBP500,000 overdraft.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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