19th Nov 2013 13:42
LONDON (Alliance News) - ZOO Digital Group PLC said that a loan facility provided to the company by the wife of Chief Executive Officer Stuart Green had been extended by up to GBP400,000 to a total of GBP600,000.
The loan is expected to be drawn down in full in the current financial year, and will now attract a 10% interest rate. The momentum of ZOOsubs, the company's cloud-based subtitle production system, caused the need for working capital.
ZOO Digital produces video post-production tools and localisation for the entertainment, publishing and packaging markets. Its shares were trading down 0.01 pence at 10.11 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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