1st Apr 2016 10:55
LONDON (Alliance News) - Progility PLC on Friday said its Australian subsidiary agreed a loan with an entity backed by Executive Chairman Wayne Bos, with the money to be used to discharge an existing working capital loan to a third-party provider which is due to be repaid.
In a statement, the professional services, healthcare and communications company said the AUD1.6 million loan was agreed with DNY Investments Ltd, an asset of the DNY Trust. Wayne Bos is a discretionary beneficiary of that family trust.
In addition, the maturity date of the GBP2.1 million 18% redeemable loan notes 2016 has been extended to April 1, 2019 from April 2, 2016. DNY Investments holds the loan notes.
Shares in Progility were untraded at 0.845 pence on Friday.
By Samuel Agini; [email protected]; @samuelagini
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