Real Good Food PLC - Liverpool-based food producer - Following negotiations with major shareholders NB Ingredients Ltd, Omnicane International Investors Ltd and Downing LLP, have agreed to extended final repayment dates for funding agreement to May 19, 2023, from the prior extension to May 19, 2022.
The change provides Real Good Food with additional financial flexibility for the group to continue its balance sheet restructuring.
"The board appreciates the support of its major shareholders in agreeing these amendments. Following the group's sale of Brighter Foods on 11 May 2021, its indebtedness has halved, and the retained businesses are performing as expected. This continued funding will support the group as it seeks to maximise shareholder value," says Chair Mike Holt.
Current stock price: 3.31 pence
Year-to-date change: down 22%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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