Loan to company and investment

RNS Number : 3237C

Highway Capital PLC

27 June 2016

 

Highway Capital plc

("Highway" or the "Company")

Loan to Company and investment

27 June 2016

Highway Capital plc announces that it has received a loan of £162,000 from Widman Asset Management SA.

The loan has a two year term and attracts 5% interest per annum.  

The Company will utilise the loan in part to make a further investment in Mylux, a Cypriot SPV to whom Highway advanced a loan of £89,000 on 3 May 2016.  The new loan to Mylux of £120,000, which will be used to make a minority investment in a medical technology company, will attract interest at a rate of 8 per cent. per annum and be repayable in 3 months.  The balance of the loan funds received from Widman Asset Management SA will be used by the Company for general working capital purposes.

 

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