Tricorn Group PLC Update on USA Payroll Protection Program loan (6368L)
September 14 2021 - 2:00AM
UK Regulatory
TIDMTCN
RNS Number : 6368L
Tricorn Group PLC
14 September 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014, as
implemented into English law ("MAR"). Upon the publication of this
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14 September 2021
Tricorn Group PLC ("Tricorn" or "the Company")
Update on USA Payroll Protection Program loan
In the announcements on 12 April 2021 and 19 April 2021, Tricorn
Group plc (AIM: TCN.L), the AIM listed tube manipulation
specialist, advised that it had received a 2(nd) draw loan as part
the USA Payroll Protection Program ("PPP").
This loan, amounting to $0.7m (GBP0.55m), was made to protect US
jobs and has been used for employee retention, payroll and other
eligible purposes.
The application for forgiveness of this loan was made by the
Company in August 2021 and the Company is pleased to announce that,
according to the lending bank's administration portal, the PPP loan
has been fully forgiven, thereby converting it into a grant.
Enquiries:
Tricorn Group plc www.tricorn.uk.com
Andrew Moss, Chairman +44 (0)7768 306 701
Michael Stock, Chief Executive and Group Finance Director +44 (0)7894 784 106
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