Digitalbox PLC New borrowing facility agreed (0643A)
September 25 2020 - 2:00AM
UK Regulatory
TIDMDBOX
RNS Number : 0643A
Digitalbox PLC
25 September 2020
25 September 2020
Digitalbox plc
("Digitalbox" or "the Company")
Funding Update
Digitalbox plc (AIM: DBOX), the mobile-first digital media
business, which owns Entertainment Daily and The Daily Mash,
announces that, in order to strengthen the balance sheet and aid
liquidity, the Company has secured a GBP450,000 five year term loan
facility under the British Business Bank's Coronavirus Business
Interruption Loans Scheme (CBILS) from its bankers, National
Westminster Bank plc (the "Facility").
The Facility can be drawn down at any point before 9 December
2020 with a 12 month interest-free period following drawdown and an
interest rate of 2.48% per annum on the drawn down amount
thereafter. The funds are repayable commencing 12 months after
drawdown in equal monthly instalments for the remaining four years.
There will be no penalty for making early repayment(s) of all or
part of the Facility.
Certain information contained in this announcement would have
constituted inside information (as defined by Article 7 of
Regulation (EU) No 596/2014) ("MAR") prior to its release as part
of this announcement and is disclosed in accordance with the
Company's obligations under Article 17 of MAR.
Enquiries:
Digitalbox c/o Newgate Communications
James Carter, CEO
WH Ireland (Nomad) Tel: 0117 945 3470
Mike Coe / Chris Savidge
Alvarium Capital (Broker) Tel: 020 7195 1400
Alex Davies / Hugh Kingsmill
Moore
Newgate Communications (Financial Tel: 020 3757 6880; digitalbox@newgatecomms.com
PR)
Robin Tozer
About Digitalbox plc
Based in Bath, UK, Digitalbox is a 'pure-play' digital media
business with the aim of profitable publishing at scale on mobile
platforms.
Digitalbox operates two trading brands, "Entertainment Daily"
and "The Daily Mash". Entertainment Daily produces and publishes
online UK entertainment news covering TV, showbiz and celebrity
news. The Daily Mash produces and publishes satirical news
content.
Digitalbox generates revenue from the sale of advertising in and
around the content it publishes. The Group's optimisation for
mobile enables it to achieve revenues per session significantly
ahead of market norms for publishers on mobile.
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END
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