MJ Hudson Group PLC - asset-management consulting company - Signs agreement with existing senior lender to provide a short term overdraft facility of GBP1.5 million. Says the loan will provide "working capital" while it undertakes the current sales process. As part of the agreement, the company's former Chief Executive & Founder Matthew Hudson provided a shareholder loan of GBP100,000.
Earlier this month, Hudson quit as CEO, days after the company's auditor Ernst & Young LLP resigned citing "lost trust and confidence" in management. Hudson led the company since founding it in 2010.
Hudson holds a 24.8% stake in the MJ Hudson, according to a stock exchange filing back in August.
Current stock price: Suspended in December
By Sophie Rose, Alliance News reporter
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