Green & Smart Enters GBP1.6 Million Loan Agreement With Director

LONDON (Alliance News) - Green & Smart Holdings PLC on Friday said it entered into an agreement with Syed Nazim bin Syed Faisal, finance director of the company, for a 12-month interest-free loan of GBP1.6 million.

The funds will be used from the renewable energy company for working capital purposes.

The re-payment of the loan is being guaranteed by Chief Executive Officer Saravanan Rasaratnam and Chief Operations Officer Navindran Balakrishnan.

Green & Smart Holdings shares were trading 4.9% lower at 2.81 pence each.