Pennant secures short-term shareholder funding for working capital
Pennant International ($PEN-LSE) agreed an unsecured loan facility of up to £600,000 from major shareholder Brett Gordon, with an initial £400,000 draw expected immediately. Borrowings carry a 10% annual interest rate, with interest paid monthly and principal repayable 180 days after each draw. Early repayment is permitted without a penalty. The facility supports working capital as the company’s overdraft limit reduces from £1.4 million to £1 million. Pennant expects customer milestone receipts
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