TIDMDCTA

RNS Number : 1590H

Directa Plus PLC

02 August 2021

2 August 2021

Directa Plus plc

("Directa Plus" or the "Company")

Italian Government Covid-19 Recovery Loans

Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces that its Italian subsidiary, Directa Plus S.p.A., has qualified for a total of EUR0.7m in loans under the Italian Government's Covid-19 Recovery Plan.

The Company took advantage of the low-cost liquidity offered by the Italian Government in order to accelerate its strategic programme.

The funds are being provided in two tranches by Intesa Sanpaolo S.p.A.: a EUR0.5m loan and a EUR0.2m leasing loan to fund the acquisition of new machinery for the Company's production facility.

The loans have a term of 5-6 years, a variable interest rate of 1.5-1.8% +EURIBOR 3M and are 80-90 per cent. guaranteed by the Italian Government.

Exploiting the same government measure the company is negotiating with another major Italian bank an additional EUR 0.5m loan. Further announcements will be made in due course.

Commenting, Giulio Cesareo, Founder and CEO of Directa Plus said: "This measure offered by the Italian Government to respond to COVID crisis will be utilised by Directa to accelerate activities in areas where our G+ graphene has a significant competitive advantage like environmental, batteries, anti-viral and anti-bacterial textiles."

For further information please visit http://www.directa-plus.com/ or contact:

 
 Directa Plus plc                            +39 02 36714458 
 Giulio Cesareo, CEO 
  Giorgio Bonfanti, CFO 
 
 Cenkos Securities plc (Nominated Adviser 
  and Joint Broker)                          +44 131 220 6939 
 Neil McDonald 
  Pete Lynch 
 
 N+1 Singer (Joint Broker)                   +44 20 7496 3069 
 Rick Thompson 
  Phil Davies 
 
 Tavistock (Financial PR and IR)             +44 20 7920 3150 
 Simon Hudson 
  Heather Armstrong

About Directa Plus

Our focus is principally on the two sectors in which we have strong commercial advantage through developed and launched products and a technological lead: environmental (based on our Grafysorber(R) product), textiles (based on our G+(R) products) and, more recently, lithium-sulphur batteries. In addition, we will continue to pursue opportunities in elastomers and composites (including tyres and asphalt), also using our G+(R) products. All our products are hypoallergenic, non-toxic and sustainably produced.

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(END) Dow Jones Newswires

August 02, 2021 02:00 ET (06:00 GMT)

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