PPP Loan Received

RNS Number : 2784O

Bonhill Group PLC

29 May 2020

 

29 May 2020

Bonhill Group plc

("Bonhill", the "Company" or the "Group")

PPP Loan Received

Bonhill Group plc (AIM: BONH), a leading B2B media business specialising in three key areas: Business Information, Live Events and Data & Insight, announces that its wholly owned subsidiary, Bonhill Group Inc, has received loans totalling $1.1 million under the US Small Business Administration's Paycheck Protection Program ('PPP') which is part of the Coronavirus Aid Relief and Economic Security Act ('CARES Act').  PPP loans, or a portion of the loan, may be forgivable if the proceeds of the loan are used for eligible purposes, including employee retention and payroll.  The Board currently expects that over two-thirds of the funds received under the PPP loan will be eligible for forgiveness, which will form a significant proportion of the Company's previously announced £1 million US payroll cost savings expected in 2020.

For further enquiries please contact:

Bonhill Group plc	[phone]
Simon Stilwell, Chief Executive David Brown, Group Finance Director
Shore Capital (Nominated Adviser and Joint Broker)	[phone]
Tom Griffiths/David Coaten (Corporate Advisory) Fiona Conroy (Corporate Broking)
Canaccord Genuity Limited (Joint Broker) Bobbie Hilliam Adam James Georgina McCooke	[phone]
Houston (PR Adviser)  Alexander Clelland	[phone]

About Bonhill Group plc

Bonhill Group plc is a leading, AIM-quoted, B2B media company providing Business Insight, Events and Data & Analytics propositions to Financial Services, Diversity and Technology business communities in 25 countries. Bonhill operates fifteen information websites, publishes four regular print titles, hosts 120 events per annum, offers a portfolio of data & analytics propositions and provides a range of content marketing solutions.

The business creates content, sales and marketing opportunities, networking events and transactional opportunities for its audiences of entrepreneurs, business owners and managers, CTOs & technology leaders, asset & wealth managers, and professional women, in addition to its sponsors, advertising clients and customers. Flagship brands include: InvestmentNews, Portfolio Adviser, Fund Selector Asia, What Investment, SmallBusiness.co.uk, GrowthBusiness.co.uk, Information Age, Women in… events series, and DiversityQ.

For more information visit  www.bonhillplc.com  

 

END

 

 

MSCFLFEEEDITFII