23rd Dec 2011 13:13
zamano plc
23 December 2011
zamano plc ("zamano" or the "Company") - Amended Bank Facility Letter
zamano plc, a leading provider of interactive applications and services to mobile devices, has amended the terms of its existing loan facility letter with Bank of Scotland plc (the "Bank") (the "Amended Facility Letter"). The Amended Facility Letter amends certain terms of the facility letter between the Company and the Bank dated 23 November 2007 (which was previously amended on 31 December 2010) and, inter alia, contains updated covenants (including revised quarterly covenant tests) and a revised capital repayment schedule which reflect the current trading of the Company.
The revised capital repayment schedule is as follows:
Financial Year | Scheduled Capital Repayment |
2012 | €150,000 on 31 March and €50,000 per month until 31 December 2012
|
2013 | €50,000 per month to 30 November / €3,455,000 on 31 December 2013 |
The Board believes that the Amended Facility Letter provides the Company with the financial flexibility required to pursue its current growth strategy.
Contacts
zamano plc
Pat Landy, Non-Executive Director
Michael Connolly, Company Secretary
Tel: +353 1 554 7200
NCB Corporate Finance
Conor McCarthy / Shane Lawlor
Tel: +353 1 611 5100
Cenkos Securities
Jon Fitzpatrick
Tel: +44 (0) 20 7397 8900
Alan Stewart
Neil McDonald
Tel: +44 (0)131 220 6939
ENDS
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