Mirada Secures GBP3 Million Loan From Shareholder Kaptungs

7th Mar 2018 14:12

LONDON (Alliance News) - Audio-visual content interaction firm Mirada PLC said Wednesday it has secured a one-year loan facility for up to GBP3.0 million.

The secured facility will be used alongside existing debt finance for general working purposes, strengthening its balance sheet moving forward whilst giving it the chance to secure new contracts, Mirada said.

It comprises of two tranches: GBP1.5 million to be drawn down within two months, and then the rest drawn down in minimum chunks of GBP100,000 within 11 months. Mirada plans to take the first tranche straight away.

It is repayable by March 6 next year, but the company can give early repayment. It has an interest rate of 15% a year on drawn down money. The facility is being provided by Kaptungs Ltd, which holds 7.7% of Mirada's share capital.

Mirada shares were down 1.8% on Wednesday at 0.810 pence each.

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