Business
New borrowing facility agreed
New borrowing facility agreed.
About this update from Digitalbox Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0643A\n Digitalbox PLC\n 25 September 2020\n \n \n \n \n 25 September 2020\n \n \n Digitalbox plc\n \n \n (\"Digitalbox\" or \"the Company\")\n \n \n \n \n \n Funding Update\n \n \n \n \n \n Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which owns Entertainment Daily and The Daily Mash, announces that, in order to strengthen the balance sheet and aid liquidity, the Company has secured a £450,000 five year term loan facility under the British Business Bank's Coronavirus Business Interruption Loans Scheme (CBILS) from its bankers, National Westminster Bank plc (the \"Facility\").\n \n \n The Facility can be drawn down at any point before 9 December 2020 with a 12 month interest-free period following drawdown and an interest rate of 2.48% per annum on the drawn down amount thereafter. The funds are repayable commencing 12 months after drawdown in equal monthly instalments for the remaining four years. There will be no penalty for making early repayment(s) of all or part of the Facility. \n \n \n Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) (\"MAR\") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \n \n \n \n \n Enquiries:\n \n \n \n \n \n Digitalbox\n \n \n \n \n c/o Newgate Communications\n \n \n \n \n \n \n James Carter, CEO\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n WH Ireland (Nomad)\n \n \n \n \n Tel: 0117 945 3470\n \n \n \n \n \n \n Mike Coe / Chris Savidge\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Alvarium Capital (Broker)\n \n \n \n \n Tel: 020 7195 1400\n \n \n \n \n \n \n Alex Davies / Hugh Kingsmill Moore\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Newgate Communications (Financial PR)\n \n \n \n \n Tel: 020 3757 6880; \n \n [email protected]\n \n \n \n \n \n \n \n Robin Tozer\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n About Digitalbox plc\n \n \n \n \n \n Based in Bath, UK, Digitalbox is a 'pure-play' digital media business with the aim of profitable publishing at scale on mobile platforms. \n \n \n \n \n \n Digitalbox operates two trading brands, \"Entertainment Daily\" ...