20 Oct 2015 07:00
20 October 2015
Toumaz Limited
New £5m banking facility
Toumaz Limited (AIM: TMZ, 'Toumaz', or the 'Group'), a pioneer in low-power, wireless semiconductor technologies for healthcare and digital audio, has signed a three year £5m term loan with Clydesdale Bank Growth Finance. This is a senior term loan with capital amortisation commencing from June 2016 with no dilution to the equity.
Anthony Sethill, CEO of Toumaz Group, said:
"As we stated in our half years results in September 2015, we expect to be cash generative from the middle of 2016. This loan provides greater resilience to our existing reserves."
Enquiries
Toumaz Limited | +44 (0) 207 391 0630 |
Anthony Sethill, Chief Executive Officer Jonathan Apps, Chief Financial Officer | |
Peel Hunt LLP (Nominated Adviser and Broker) | +44 (0) 207 418 8900 |
Richard Kauffer/Euan Brown |
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Instinctif Partners | +44 (0) 207 457 2020 |
Adrian Duffield/Lauren Foster |
About Toumaz (www.toumaz.com)
Toumaz Limited is a pioneer in low-power, wireless semiconductor and software technologies for digital audio and healthcare. The company has two divisions, Frontier Silicon and Sensium Healthcare. Frontier Silicon provides chips, modules and software for digital radio and connected audio devices. Sensium Healthcare develops wireless solutions for patient monitoring.