LONDON (Alliance News) - Premier Veterinary Group PLC on Tuesday said it has entered a secured loan worth GBP3.9 million with Bybrook Finance Solutions Ltd.
Shares in the company were trading down 6.5% at 39.75 pence each on Tuesday.
Rajan Uppal, corporate development director of Premier Veterinary, is the sole director and shareholder of the lender.
The loan, with an interest of 1% per month, is repayable at the end of April 2019, with an option to extend until 2021.
Of the total, GBP1.9 million has been utilised to pay the arrangement fee of GBP350,000 and to repay a GBP1.5 million loan arranged in 2017. The remaining GBP2.0 million of the loan will be used to fund working capital requirements.
