Graft Polymer (UK) PLC Loan facility update

RNS Number : 7455L

Graft Polymer (UK) PLC

23 April 2024

 

   

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION WILL BE CONSIDERED TO BE IN THE PUBLIC DOMAIN.  

 

23 April 2024  

  

Graft Polymer (UK) Plc 

(the "Company") 

  

Loan facility update

 

Further to the announcement on 15 March 2024 in respect of the loan facility provided by Nicholas Nelson (Non-Executive Chairman of the Company) and one other private individual, the Company announces that this facility has today been increased by a further £100,000 under the same terms as the original loan facility. The loan facility now stands at £200,000, £100,000 of which has been drawn and the remaining £100,000 is to be drawn imminently to provide further working capital to the Company as it works to raise additional funding.

 

Mr Nelson has contributed £50,000 to the increase in the loan facility which constitutes a material related party transaction for the purpose of rule 7.3 of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. This material related party transaction has been approved by the board of Directors of the Company. Mr Nelson did not take part in the board of Directors' consideration of the transaction with him and he did not vote on the relevant board decision.

 

Enquiries:

 

Graft Polymer (UK) Plc 

Nicholas Nelson, Non-Executive Chairman 

[e-mail] 

Yifat Steuer, CFO and Executive Director 

 

Allenby Capital (Joint broker)

Nick Naylor / Liz Kirchner (Corporate Finance) 

Guy McDougall (Sales) 

 [phone] 

 

 

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