29th May 2020 07:00
29 May 2020
Bonhill Group plc
("Bonhill", the "Company" or the "Group")
PPP Loan Received
Bonhill Group plc (AIM: BONH), a leading B2B media business specialising in three key areas: Business Information, Live Events and Data & Insight, announces that its wholly owned subsidiary, Bonhill Group Inc, has received loans totalling $1.1 million under the US Small Business Administration's Paycheck Protection Program ('PPP') which is part of the Coronavirus Aid Relief and Economic Security Act ('CARES Act'). PPP loans, or a portion of the loan, may be forgivable if the proceeds of the loan are used for eligible purposes, including employee retention and payroll. The Board currently expects that over two-thirds of the funds received under the PPP loan will be eligible for forgiveness, which will form a significant proportion of the Company's previously announced £1 million US payroll cost savings expected in 2020.
For further enquiries please contact:
Bonhill Group plc | +44 (0)20 7250 7035 |
Simon Stilwell, Chief Executive David Brown, Group Finance Director
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Shore Capital (Nominated Adviser and Joint Broker) | +44 (0)20 7408 4080 |
Tom Griffiths/David Coaten (Corporate Advisory) Fiona Conroy (Corporate Broking)
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Canaccord Genuity Limited (Joint Broker) Bobbie Hilliam Adam James Georgina McCooke
| +44 (0)20 7523 8000 |
Houston (PR Adviser) Alexander Clelland | +44 (0)20 3701 7660 |
About Bonhill Group plc
Bonhill Group plc is a leading, AIM-quoted, B2B media company providing Business Insight, Events and Data & Analytics propositions to Financial Services, Diversity and Technology business communities in 25 countries. Bonhill operates fifteen information websites, publishes four regular print titles, hosts 120 events per annum, offers a portfolio of data & analytics propositions and provides a range of content marketing solutions.
The business creates content, sales and marketing opportunities, networking events and transactional opportunities for its audiences of entrepreneurs, business owners and managers, CTOs & technology leaders, asset & wealth managers, and professional women, in addition to its sponsors, advertising clients and customers. Flagship brands include: InvestmentNews, Portfolio Adviser, Fund Selector Asia, What Investment, SmallBusiness.co.uk, GrowthBusiness.co.uk, Information Age, Women in… events series, and DiversityQ.
For more information visit www.bonhillplc.com
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