New borrowing facility agreed

RNS Number : 0643A

Digitalbox PLC

25 September 2020

 

25 September 2020

Digitalbox plc

("Digitalbox" or "the Company")

Funding Update

Digitalbox plc (AIM: DBOX), the mobile-first digital media business, which owns Entertainment Daily and The Daily Mash, announces that, in order to strengthen the balance sheet and aid liquidity, the Company has secured a £450,000 five year term loan facility under the British Business Bank's Coronavirus Business Interruption Loans Scheme (CBILS) from its bankers, National Westminster Bank plc (the "Facility").

The Facility can be drawn down at any point before 9 December 2020 with a 12 month interest-free period following drawdown and an interest rate of 2.48% per annum on the drawn down amount thereafter. The funds are repayable commencing 12 months after drawdown in equal monthly instalments for the remaining four years. There will be no penalty for making early repayment(s) of all or part of the Facility.

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Enquiries:

Digitalbox	c/o Newgate Communications
James Carter, CEO
WH Ireland (Nomad)	Tel: [phone]
Mike Coe / Chris Savidge
Alvarium Capital (Broker)	Tel: [phone]
Alex Davies / Hugh Kingsmill Moore
Newgate Communications (Financial PR)	Tel: [phone]; [e-mail]
Robin Tozer

About Digitalbox plc

Based in Bath, UK, Digitalbox is a 'pure-play' digital media business with the aim of profitable publishing at scale on mobile platforms.

Digitalbox operates two trading brands, "Entertainment Daily" and "The Daily Mash". Entertainment Daily produces and publishes online UK entertainment news covering TV, showbiz and celebrity news. The Daily Mash produces and publishes satirical news content.

Digitalbox generates revenue from the sale of advertising in and around the content it publishes. The Group's optimisation for mobile enables it to achieve revenues per session significantly ahead of market norms for publishers on mobile.

 

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