Amala Foods to Extend Loan; Sees Performance Indicators on Target
June 23 2021 - 3:07AM
Dow Jones News
By Adria Calatayud
Amala Foods PLC said Wednesday that it has agreed to extend a
loan to the first quarter of 2022 and that performance indicators
remain on target, as the company nears completion of research and
development of several plant-based products.
The London-listed food-technology company--which was previously
known as Bigdish--said it has signed a term sheet to extend a loan
of 540,000 pounds ($753,354) it received in September. To date, the
company has used only GBP200,000, and the extension will allow it
to use the remaining funds, it said.
The company said it is in discussions with various distribution
channels for its plant-based products, as it is in the process of
completing the R&D phase and will now enter into the
commercial-development phase.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
June 23, 2021 03:06 ET (07:06 GMT)
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