Last checked at 27 Jun 2016 08:49
Highway Capital plc
("Highway" or the "Company")
Loan to Company and investment
27 June 2016
Highway Capital plc announces that it has received a loan of £162,000 from Widman Asset Management SA.
The loan has a two year term and attracts 5% interest per annum.
The Company will utilise the loan in part to make a further investment in Mylux, a Cypriot SPV to whom Highway advanced a loan of £89,000 on 3 May 2016. The new loan to Mylux of £120,000, which will be used to make a minority investment in a medical technology company, will attract interest at a rate of 8 per cent. per annum and be repayable in 3 months. The balance of the loan funds received from Widman Asset Management SA will be used by the Company for general working capital purposes.