MEN has called a GM seeking shareholder approval for amendments to its US$11.9m loan facility with IYA Group, a company owned by Chairman Peter Levine. The proposed changes will deliver ~US$5m of interest savings, providing additional funds for working capital and the expansion of MEN’s hydrocarbon and alternative energy divisions, while the extended maturity of the facility provides further flexibility to manage its cashflow.
20 Mar 2023
Molecular Energies - Amendments proposed to IYA loan terms
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Molecular Energies - Amendments proposed to IYA loan terms
Molecular Energies PLC (MEN:LON) | 7.0 -1.2 (-70.8%) | Mkt Cap: 0.87m
- Published:
20 Mar 2023 -
Author:
Jonathan Wright -
Pages:
4
MEN has called a GM seeking shareholder approval for amendments to its US$11.9m loan facility with IYA Group, a company owned by Chairman Peter Levine. The proposed changes will deliver ~US$5m of interest savings, providing additional funds for working capital and the expansion of MEN’s hydrocarbon and alternative energy divisions, while the extended maturity of the facility provides further flexibility to manage its cashflow.