ProsperCap (SGX:PPC) has drawn down 5 million pounds sterling under its recently secured credit facility with DTP Inter Holdings Corporation, according to a Wednesday filing with the Singapore Exchange.
In order to utilize the loan, the company, via its several subsidiaries, has subscribed to additional shares in order to support capital expenses, operations, and working capital needs of the group's UK-based subsidiary, PPC Hospitality (UK) Company.
The investments are not expected to impact the company's financial statements for the year ending Dec. 31.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments