Additional Italian Government Covid Recovery Loan

RNS Number : 0039P

Directa Plus PLC

14 October 2021

 

14 October 2021

Directa Plus plc

("Directa Plus" or the "Company")

Additional Italian Government Covid-19 Recovery Loan

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 an additional €0.5m loan under the Italian Government's Covid-19 Recovery Plan. These funds follow the receipt of the €0.7m loan announced on 2 August 2021.

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

The new loan is being provided by Banca Popolare di Sondrio, a major Italian bank. It has a term of 6 years, a variable interest rate of 1.5% +EURIBOR 3M and is 80 per cent. guaranteed by the Italian Government.

Commenting, Giulio Cesareo, Founder and CEO of Directa Plus said: "Directa Plus will leverage on these additional funds offered at low cost by the Italian Government to accelerate its strategic programme and continuing growth."

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 Adam Rae
Singer Capital Markets (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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