- Management confirms full-year guidance
- New £5.5mn secured-term loan
- CZT detectors integrated into next generation medical scanners
Sedgefield-based Kromek (KMK:3.2p), a radiation detection technology company, announced an important refinancing of its debt facilities a few weeks ago, even if the share price fails to acknowledge it.
A new secured term loan of £5.5mn is being provided by the investment vehicle controlled by Dr Graeme Speirs who holds a 9.6 per cent shareholding in the company. It carries an interest rate of 9.5 per cent, 0.4 percentage points more than the previous £5mn facility with HSBC, and is due for repayment in March 2025. Kromek has the option of paying the £118,750 quarterly interest charge by issuing new shares.