LONDON (Alliance News) - Real Good Food PLC said Friday it agreed terms for at least GBP8.2 million funding from major shareholders.
This follows an end of March announcement by the company of the need for additional funding to "relieve pressure on cash availability".
The three main shareholders in Real Good Food - Napier Brown Ingredients Ltd, Omnicane International Investors Ltd and funds managed by Downing LLP - are providing the extra funds in the form of a secured loan notes.
The additional funding from shareholders will cover the final tranche of GBP4.5 million that the cake decoration company is due to pay the for the acquisition of sport and slimming snack bar producer Brighter Foods.
The remaining GBP4.2 million maximum will fund the company's foreseeable working capital needs.
Real Good Food shares were trading at 15.50 pence, up 6.9%.
