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Real Good Food gets shareholder help with disposal costs
28th May 2021 13:25
(Sharecast News) - Real Good Food updated the market on the completed disposal of Brighter Foods on Friday, reporting that major shareholders Napier Brown, Omnicane, and certain funds managed by Downing had each agreed to contribute £0.18m towards the costs it incurred around the sale.
The AIM-traded firm said the total contribution of £0.54m was by way of a waiver of outstanding loan notes held by each of the shareholders, reducing the amount of loan notes outstanding to £22m.
"This waiver has been agreed with respect of certain costs related to the disposal," the board said in its statement.
"The £0.54m attributable to the waiver is split between £0.35m of capital, £0.1m relating to certain management compensation, with the remainder being in respect of interest and redemption premium."
At 1243 BST, shares in Real Good Food were up 9.09% at 3p.
The AIM-traded firm said the total contribution of £0.54m was by way of a waiver of outstanding loan notes held by each of the shareholders, reducing the amount of loan notes outstanding to £22m.
"This waiver has been agreed with respect of certain costs related to the disposal," the board said in its statement.
"The £0.54m attributable to the waiver is split between £0.35m of capital, £0.1m relating to certain management compensation, with the remainder being in respect of interest and redemption premium."
At 1243 BST, shares in Real Good Food were up 9.09% at 3p.