Loan facility and operational update
July 02 2009 - 2:00AM
UK Regulatory
TIDMPROV
RNS Number : 9334U
Proventec PLC
02 July 2009
+------------------------------------+------------------------------------+
| Press Release | 2 July 2009 |
+------------------------------------+------------------------------------+
Proventec plc
("Proventec" or "the Company")
Loan facility and operational update
The Board of Proventec plc (AIM:PROV, Alternext:ALPTC), announces that it has
entered into a short-term unsecured loan arrangement with a European
institutional investor, for the provision of a total of GBP500,000 to support
the working capital requirements of the Company.
The facility is available until 30 September 2009. Amounts drawn under the
facility bear an interest rate of 16% per annum and are repayable on 30
September 2009.
The Company confirms that it is considering a range of financing options
including the potential issue of new equity and has received indications of
interest from a number of existing and new shareholders. The Board will be
making a further announcement on the progress on this fundraising shortly.
- Ends -
For further information, please contact:
+-----------------------------------------+--------------------------------+
| Proventec plc | |
+-----------------------------------------+--------------------------------+
| David Chestnutt, Chief Executive | Tel: + 44 (0) 151 706 0626 |
+-----------------------------------------+--------------------------------+
| dchestnutt@proventecplc.com | www.proventecplc.com |
+-----------------------------------------+--------------------------------+
+-----------------------------------------+--------------------------------+
| Seymour Pierce Limited |
+--------------------------------------------------------------------------+
| Nicola Marrin / Christopher Wren | Tel: + 44 (0) 20 7107 8047 |
+-----------------------------------------+--------------------------------+
| Corporate Finance | www.seymourpierce.com |
+-----------------------------------------+--------------------------------+
Media enquiries:
+-----------------------------------------+--------------------------------+
| Abchurch | |
+-----------------------------------------+--------------------------------+
| Henry Harrison-Topham / Stephanie | Tel: +44 (0) 20 7398 7718 |
| Cuthbert | |
+-----------------------------------------+--------------------------------+
| stephanie.cuthbert@abchurch-group.com | www.abchurch-group.com |
+-----------------------------------------+--------------------------------+
Notes to editors:
Proventec manages a complementary portfolio of integrated businesses that
specialise in hygienic solutions and preventative coatings technologies.
Headquartered in Liverpool, UK, the Company operates in global markets,
pioneering developments within the healthcare, food manufacturing, hospitality
industries, transportation, construction, and other sectors. Companies in
Proventec's portfolio include:
+------------------+----------------------------------------+------------+
| Company | Business area | Employees |
| | | |
+------------------+----------------------------------------+------------+
| OspreyDeepClean | The world's leading provider of low | 34 |
| | pressure, chemical-free, specialist | |
| | dry saturated steam cleaning | |
| | technology. | |
| | | |
+------------------+----------------------------------------+------------+
| Contico | Provider of general cleaning products | 45 |
| Manufacturing | and janitorial equipment and supplies. | |
| | | |
+------------------+----------------------------------------+------------+
| Frank | Manufacturer and distributer of | 22 |
| | automated cleaning systems and | |
| | products including portable high | |
| | pressure washers, self-service vehicle | |
| | wash stations and dry steamers. | |
| | | |
+------------------+----------------------------------------+------------+
| CryoJet | Provider of a specialised, industrial | 25 |
| | cleaning service, utilising steam and | |
| | proprietary dry-ice technology. | |
| | | |
+------------------+----------------------------------------+------------+
| Magma Firestop | Develops a wide range fire retardant | 4 |
| | coatings, for the treatment of | |
| | building and thatching materials. | |
| | | |
+------------------+----------------------------------------+------------+
| InnoShield | Develops transparent coatings | 1 |
| Systems | protecting against UV rays and | |
| | corrosion. | |
| | | |
+------------------+----------------------------------------+------------+
Proventec Healthcare provides innovative solutions for infection control and
effective cleaning in the healthcare sector. The Company's specialist steam
cleaning technology has been successfully proven in clinical trials with
University College London Hospitals to rid all areas and combat the spread of
micro-organisms, including 'superbugs' such as MRSA and Clostridium difficile.
The Company has developed specialist, patented tooling, which has been designed
to be used within hospitals on a daily basis and enable the user to clean
difficult to reach areas including mattresses, bed frames and curtains without
the use of antimicrobial chemicals that may contribute to microbial resistance.
The Company joined the AIM Market in June 2002 and was dual listed on Alternext
in May 2008. For further information please visit www.proventecplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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