Italian Government Covid-19 Recovery Loans

RNS Number : 1590H

Directa Plus PLC

02 August 2021

 

2 August 2021

Directa Plus plc

("Directa Plus" or the "Company")

Italian Government Covid-19 Recovery Loans

Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces that its Italian subsidiary, Directa Plus S.p.A., has qualified for a total of €0.7m in loans under the Italian Government's Covid-19 Recovery Plan.

The Company took advantage of the low-cost liquidity offered by the Italian Government in order to accelerate its strategic programme.

The funds are being provided in two tranches by Intesa Sanpaolo S.p.A.: a €0.5m loan and a €0.2m leasing loan to fund the acquisition of new machinery for the Company's production facility.

The loans have a term of 5-6 years, a variable interest rate of 1.5-1.8% +EURIBOR 3M and are 80-90 per cent. guaranteed by the Italian Government.

Exploiting the same government measure the company is negotiating with another major Italian bank an additional € 0.5m loan. Further announcements will be made in due course.

Commenting, Giulio Cesareo, Founder and CEO of Directa Plus said: "This measure offered by the Italian Government to respond to COVID crisis will be utilised by Directa to accelerate activities in areas where our G+ graphene has a significant competitive advantage like environmental, batteries, anti-viral and anti-bacterial textiles."

For further information please visit http://www.directa-plus.com/ or contact:

Directa Plus plc	[phone]
Giulio Cesareo, CEO Giorgio Bonfanti, CFO
Cenkos Securities plc (Nominated Adviser and Joint Broker)	[phone]
Neil McDonald Pete Lynch
N+1 Singer (Joint Broker)	[phone]
Rick Thompson Phil Davies
Tavistock (Financial PR and IR)	[phone]
Simon Hudson Heather Armstrong

About Directa Plus

Our focus is principally on the two sectors in which we have strong commercial advantage through developed and launched products and a technological lead: environmental (based on our Grafysorber® product), textiles (based on our G+® products) and, more recently, lithium-sulphur batteries.  In addition, we will continue to pursue opportunities in elastomers and composites (including tyres and asphalt), also using our G+® products.  All our products are hypoallergenic, non-toxic and sustainably produced.

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