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Bonhill Group PLC - 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

+44 (0)20 7250 7035

Simon Stilwell, Chief Executive

David Brown, Group Finance Director

 

 

Shore Capital (Nominated Adviser and Joint Broker)

+44 (0)20 7408 4080

Tom Griffiths/David Coaten (Corporate Advisory)

Fiona Conroy (Corporate Broking)

 

 

Canaccord Genuity Limited (Joint Broker)

Bobbie Hilliam

Adam James

Georgina McCooke

 

+44 (0)20 7523 8000

Houston (PR Adviser)                                                                                         

Alexander Clelland

+44 (0)20 3701 7660

 

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 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Bonhill Group PLC

Price: 5.75

Market: LSE
Market Cap: £5.67 m
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