18th Aug 2023 09:57
(Alliance News) - RentGuarantor Holdings PLC on Friday said it has raised GBP200,000 through the issue of 6% coupon unsecured convertible loan notes 2022.
The London-based rent guarantee service provider said that interest on the notes accrues annually at 6%. The interest will be paid on the first year anniversary of the deed, it added.
Chief Executive Officer Paul Foy subscribed to GBP50,000 in notes.
RentGuarantor said it is "satisfied" that the amount raised is sufficient for the company's current requirements. It noted that it will be used to fund the company's current working capital and capital expenditure requirements.
By Sophie Rose, Alliance News reporter
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