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Christie Group accepts £6m coronavirus interruption loan
27th May 2020 08:44
(Sharecast News) - Professional and financial services provider Christie Group said on Wednesday that it had accepted the offer of a Coronavirus Large Business Interruption Loan of £6m.
Christie said the new loan, required to be drawn down in full, was a "precautionary and prudent measure" and would be used to assist with working capital and operational changes in response to the disruption caused by the Covid-19 pandemic.
The AIM-listed group also highlighted that the loan would be in addition to its existing bank facilities and cash resources.
Elsewhere, Christie revealed that executive director Chris Day had agreed to delay his retirement from the board and would now step down no later than 30 September - also the date to which the group has delayed the release of its full-year results.
Christie expects its 2019 results to be in line with market expectations.
As of 0840 BST, Christie shares were untraded at 75p.
Christie said the new loan, required to be drawn down in full, was a "precautionary and prudent measure" and would be used to assist with working capital and operational changes in response to the disruption caused by the Covid-19 pandemic.
The AIM-listed group also highlighted that the loan would be in addition to its existing bank facilities and cash resources.
Elsewhere, Christie revealed that executive director Chris Day had agreed to delay his retirement from the board and would now step down no later than 30 September - also the date to which the group has delayed the release of its full-year results.
Christie expects its 2019 results to be in line with market expectations.
As of 0840 BST, Christie shares were untraded at 75p.