17th May 2018 16:45
LONDON (Alliance News) - Real Good Food PLC on Thursday said it had confirmed agreements for funding from major shareholders worth GBP8.2 million.
Earlier in May, the company had said shareholders Napier Brown Ingredients Ltd, Omnicane International Investors Ltd, and funds managed by Downing LLP were to provide funds in the form of secured loan notes.
The funding is for the final tranche of GBP4.5 million the cake decoration company is due to pay for the acquisition of sport and slimming snack bar producer Brighter Foods. The remaining GBP4.2 million maximum will fund the company's foreseeable working capital needs.
The loans have interest of 12% a year.
Shares were down 29% on Thursday at a price of 10.00 pence each.
Related Shares:
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