KRM22 Amends Convertible Loan Facility with Largest Shareholder
Why we think this is neutral
This RNS announcement details an amendment to KRM22's convertible loan facility with its largest shareholder, Trading Technologies International, Inc. The key changes include deferring all interest payments until June 2026, reducing the facility amount by £0.5 million, and loosening the future revenue covenant. While this provides KRM22 with additional flexibility, the announcement does not contain any information about the company's trading performance or financial results, which are the key drivers of sentiment.
Key Points
- Convertible loan facility agreement amended with largest shareholder, Trading Technologies International, Inc.
- All interest payments deferred until June 2026
- Facility amount reduced by £0.5 million to £4.5 million
- Future revenue covenant loosened to provide KRM22 with additional flexibility
Summary
KRM22 plc, the technology and software investment company, has announced that the terms of its convertible loan facility agreement with its largest shareholder, Trading Technologies International, Inc., have been amended. The key changes include deferring all interest payments until June 2026, reducing the facility amount by £0.5 million, and loosening the future revenue covenant. This provides KRM22 with additional flexibility as it continues to focus on growing its Annual Recurring Revenue and becoming a cash profitable business.