29 Mar 2018 07:00
29 March 2018
Modern Water plc
("Modern Water" or "the Group")
New Finance Facility
Modern Water plc (AIM:MWG), the owner of leading technologies for water and wastewater treatment and for the monitoring of water quality, announces that it yesterday entered into a new £500,000 two year loan facility, provided by Barclays Bank plc and backed by the European Investment Bank (EIB).
The loan will accrue interest at 8% over base rate including a fee for the EIB guarantee. No repayment of capital will be due in the first year. The facility is secured by a debenture and cross guarantee across all UK group companies.
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For further information:
Modern Water plc +44 (0) 1483 696 000
Simon Humphrey, Chief Executive
WH Ireland Limited +44 (0) 207 220 1666
Chris Fielding (Nominated Adviser)
James Sinclair-Ford
Tavistock +44 (0) 207 920 3150
Andrew Dunn
James Collins
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.