Autins Group PLC Completion of CBILs Funding (3017S)
08 Julio 2020 - 1:00AM
UK Regulatory
TIDMAUTG
RNS Number : 3017S
Autins Group PLC
08 July 2020
08 July 2020
Autins Group plc
(the "Company" or the "Group")
Completion of CBILs Funding
Autins Group plc (AIM: AUTG), UK based manufacturer of the
patented Neptune melt-blown material and specialist in the design,
manufacture and supply of acoustic, filtration (PPE) and thermal
insulation solutions, announces that further to the update given on
29th June, the Company is pleased to confirm that the CBILS loan
documentation has been completed and that it has now received
GBP2.75m of CBILS funds.
The funding consists of two loans. The first is a 12 month
bullet loan repayable as a lump sum at the end of its term for
GBP0.75m. The second loan of GBP2m is a term loan repayable over 6
years, with no capital repayments required until month 15. Both
loans are eligible for British Business Bank interest support for
the first 12 months.
A trade finance facility of GBP0.3m will now also be made
available to us. In total the Group will have an additional
GBP3.05m of banking facilities, which can be utilised within the
UK.
For further information please contact:
Autins Group plc Via Newgate
Gareth Kaminski-Cook, Chief
Executive
Kamran Munir, Chief Financial
Officer
N+1 Singer Tel: 020 7496 3000
(Nominated Adviser and Broker)
Mark Taylor / Carlo Spingardi
Newgate Communications Tel: 020 7653 9850
(Financial PR)
Adam Lloyd
Tom Carnegie
About Autins
Autins is a UK based manufacturer of the patented Neptune
melt-blown material and specialises in the design, manufacture and
supply of acoustic, filtration and thermal products. Its key
markets are automotive, flooring, office furniture, PPE and face
mask products.
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END
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