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Malvern International enters new short-term loan agreement for £350,000
StockMarketWire.com
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Global learning and skills development partner Malvern International said it has entered into a new short-term loan agreement for £350,000 and has also secured a further £30,000 via a unsecured loan note with a director.
It said this new borrowing is to provide bridging finance to ensure the company has sufficient working capital pending the payment of a significant trade debtor amounting to in excess of £900,000, which is expected to be paid in the first quarter 2021.
The company said that in line with the government guidance all schools will be closed from 5 January to 14 February.
University Pathway student numbers for the September intake ended up in line with budget with 121 students.
The January 2021 intake is going ahead and will be delivered using blended learning, with all teaching being online initially.
At 8:22am: (LON:MLVN) Malvern International Plc Ord 5p share price was 0p at 0.13p
Story provided by StockMarketWire.com
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