REG - Glantus Holdings PLC - Additional Working Capital Facility

Glantus HoldingsAnnouncement

24/10/2022 07:00

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RNS Number : 7939D  Glantus Holdings PLC  24 October 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF
THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

 

Glantus Holdings plc

 

(''Glantus'' or the ''Company'')

 

Additional Working Capital Facility

 

Glantus (AIM: GLAN), the provider of Accounts Payable ("AP") automation and
analytics solutions, is pleased to announce it has entered into a new
additional short term working capital facility.

 

Further to the details disclosed on 28 September 2022 with the Company's
interim accounts, the Company has now successfully concluded negotiations with
its current lender, Beach Point Capital, for a €1.5m additional permitted
drawdown of the existing Beach Point debt facility until 31 December 2022.

 

The costs attached to the facility are fixed at 2%, equating to €30,000,
plus €5,000 legal fees. This new facility, is expected to be repaid from the
Company's cash flow prior to the 2022 year-end.

 

Costa Rica

 

As also detailed  in the Company's interim accounts, Glantus has successfully
performed a rapid, operational transition in the past four months to relocate
its US AP audit function to Costa Rica. The Company is pleased to confirm that
 staff at the centre have now been fully trained and have been successfully
working on live audits since 1 October 2022. While the centre has only been
operational for a short time, the Company is pleased with performance so far.

 

 

Enquiries:

 

 

 Glantus Holdings
 Maurice Healy, CEO                                             + 353 862677800

 Grainne McKeown, CFO

 ir@glantus.com (mailto:ir@glantus.com)

 Shore Capital
 Nominated Advisor and Broker                                   + 44 207 408 4090

 Patrick Castle / John More / Tom Knibbs (Corporate Advisory)

 Andrew Beswick (Corporate Broking)

 Yellow Jersey PR
 Charles Goodwin                                                +44 7747 788 221

 Lilian Filips

 Annabelle Wills

About Glantus Holdings plc

Glantus Holdings (AIM: GLAN) Glantus is a global provider of accounts payable
automation and analytics solutions. Glantus' mission is to harness technology
to drive innovation, unlocking efficiencies in AP to maximise working capital
for global enterprise organisations. The award-winning Glantus DataShark
Platform connects all AP systems and suppliers on one agile platform,
eliminating cost and delivering new revenue streams. We work in tandem with
our partners to deliver joint enterprise digital transformation solutions. For
more information see glantus.com (https://www.glantus.com/)  .

Founded in 2014 and headquartered in Dublin, Glantus has offices in the United
States, United Kingdom, Poland and Costa Rica, employing over 120 people.

 

 

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