Arrangement of Loan Facility
06/11/2023 07:00
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RNS Number : 4189S S-Ventures PLC 06 November 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
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S-Ventures PLC
("S-Ventures" or the "Group")
Arrangement of Loan Facility
S-Ventures (AQSE: SVEN), the company investing in brands across the natural,
wellness and food-tech categories, is pleased to announce that the Group has
secured a bridging loan facility of £1m, which is predominantly for
short-term working capital purposes and will be repayable in six months. The
facility has been secured through a Middle Eastern family office and enables
S-Ventures to secure working capital as it works through its fundraise plans
and process. The facility is in two tranches of £500,000. The first tranche
has been made available and the second tranche will be available on 6 November
2023. The facility bears an interest rate of 2 per cent. per month and has
been secured by a debenture, and is also supported by a personal guarantee
from S-Venture's CEO, Scott Livingston.
We expect to update the market on the fundraise announced on 18th October in
due course.
For further information, please contact:
S-Ventures plc +44 (0) 1932 400 224
Scott Livingston (Chief Executive Officer)
Stephen Argent (Chief Financial Officer)
VSA Capital, AQSE Corporate Adviser and Broker: +44 (0) 20 3005 5000
Andrew Raca
Matt Harker
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