Glantus Holdings PLC Additional Working Capital Facility (7939D)
October 24 2022 - 2:00AM
UK Regulatory
TIDMGLAN
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 EUR1.5m 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
EUR30,000, plus EUR5,000 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
Grainne McKeown, CFO
ir@glantus.com + 353 86 2677800
Shore Capital
Nominated Advisor and Broker
Patrick Castle / John More / Tom Knibbs (Corporate
Advisory)
Andrew Beswick (Corporate Broking) + 44 207 408 4090
Yellow Jersey PR
Charles Goodwin
Lilian Filips
Annabelle Wills +44 7747 788 221
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 .
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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END
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