Arena Events Group Agrees to Repay Short Term Funding Facility

Arena Events Group (LON: ARE) announced on Wednesday that it has agreed with Lombard Odier Investment Management (LOIM) to repay and cancel the short-term financing facility.

LOIM, a major shareholder of Arena Events Group, provided the short-term financing facility in 2019.

Arena Events said the decision announced today will reduce its ongoing financial costs by around £ 0.4million per year.

The principal amount drawn under the facility is £ 2million, which was due on September 25, 2021 and was repaid in full on July 20, 2021, along with £ 0.5million in compound interest.

The company used existing cash resources to make the repayment. As of July 19 of this year, its cash resources amounted to £ 27 million.

Shares of Arena Events Group are down 1.85% to 15.2p so far on Wednesday.

Should you invest in Arena Events Group shares?

Arena Events Group shares are traded on the London Stock Exchange’s AIM market (the Alternative Investments Market), which is the submarket specifically for small businesses. AIM shares are attractive to investors because they have tax advantages and small companies have the potential to benefit from rapid growth. But are Arena Events Group stocks the best buy? Our stock analysts regularly review the market and share their picks for high growth companies

CFDs are complex instruments and come with a high risk of losing money quickly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You need to ask yourself if you understand how CFDs work and if you can afford to take the high risk of losing your money.

Source link

Previous Biden Competition Ordinance Sparks Lobbying
Next How to Claim Free Items for the Fortnite Rainbow Royale Event: Wraps, Sprays & Emote