17th Jul 2014 12:58
LONDON (Alliance News) - Progressive Digital Media Group PLC Thursday said it has negotiated a new GBP30 million five-year banking facility with The Royal Bank of Scotland Group PLC, which replaces its current agreements which were due to expire in September 2015.
The new GBP30 bmillion multi-currency facility includes a GBP10 million term loan and a GBP20 million revolving credit facility.
"The new banking arrangements provide sufficient liquidity for both general working capital requirements and where appropriate, the financing of further acquisitions," Progressive Digital Media said in a statement
Progressive Digital Media's shares were quoted 267.5 pence per share Thursday afternoon, untraded.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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