7digital Group PLC Arrangement of Debt Facility (5214F)
March 10 2020 - 3:00AM
UK Regulatory
TIDM7DIG
RNS Number : 5214F
7digital Group PLC
10 March 2020
10 March 2020
7digital Group plc
("7digital" or "the Company")
Arrangement of Debt Facility
7digital Group plc (AIM:7DIG), the global leader in B2B
end-to-end digital music solutions, announces that it has entered
into a 12-month loan of GBP500,000 with a UK-based lender at an
interest rate of 1.5% per month. The monies will be used by the
Company for working capital purposes.
Tamir Koch, Chair of 7digital, said: "This debt facility will
support the Company's growth with non-dilutive funding as it
continues to make rapid progress towards operational profitability
by the end of Q2 2020. 7digital has signed multiple contracts in
recent months and this facility provides additional financial
flexibility to execute on our healthy pipeline of deals with
companies and innovators seeking to capitalise on the growth in
audio and music streaming."
Enquiries
7digital 020 7099 7777
Paul Langworthy, CEO
Arden Partners (Nominated Adviser and Broker) 020 7614 5900
Richard Johnson, Benjamin Cryer
Luther Pendragon (Financial PR) 020 7618 9100
Harry Chathli, Joe Quinlan, Elliot Fradd
About 7digital ( www.7digital.com/ )
7digital is the global leader in B2B end-to-end digital music
solutions. The core of its business is the provision of robust and
scalable technical infrastructure and extensive global music rights
used to create music streaming and radio services for a diverse
range of customers - including consumer brands, mobile carriers,
broadcasters, automotive systems, record labels and retailers.
7digital also offers radio production and music curation services,
editorial strategy and content management expertise.
7digital fosters industry growth and innovation by simplifying
access to music for clients. From years of being the largest
independent producer of programming for the BBC and powering
services for partners like Global Radio and Fender, 7digital is
perfectly positioned to lead innovation at the intersection of
digital music and next-generation radio services.
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END
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