Arena Events Repays Finance Facility
21 July 2021 - 6:05PM
Dow Jones News
By Anthony O. Goriainoff
Arena Events Group PLC said Wednesday that it has repaid and
canceled its short-term financing facility in full--as well as
500,000 pounds ($681,500) of compound interest--and that repayment
was made from its existing cash resources.
The London-listed event-services provider said that the GBP2.0
million facility had been provided by significant shareholder
Lombard Odier Investment Management and that, although it was due
for repayment on Sept. 25, it was repaid on July 19.
"This decision will reduce the ongoing finance costs of the
company by approximately GBP400,000 on an annualized basis," the
company said.
Shares at 0725 GMT were flat at 15.50 pence.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 21, 2021 03:53 ET (07:53 GMT)
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