Integumen PLC - Unsecured Loan Facility Agreement with Cellulac
AIM share code: SKIN
("Integumen" or "Company")
Unsecured Loan Facility Agreement with
The Company has today announced its audited results for the year ended
· Labskin laboratories,
o Working capital to support
o Investment of
· New employees joined the Company during the COVID19 lockdown due to increased demand.
· Doubling of production capacity of Modern Water's reagent bacteria[ii]
· Miniaturisation of RAWTest AI equipment for SARS-CoV-2[iii] in wastewater and dental clinics at
In order to give the Company some additional flexibility to manage this growth, the Board has entered into a
Amount of Loan:
Cellulac has made available to the Company a loan facility of up to a maximum of
The term of the Loan is 24 months.
The Loan is unsecured.
The interest rate is 5% per annum on drawn amounts.
Under the Loan the Company has the ability to draw four equal amounts of
No arrangement or other fees are payable by the Company in connection with the Loan.
Interest only is payable during the Drawdown Period; Capital and Interest payments are payable over the remaining term of the Loan in equal monthly instalments.
Currently there is no intention to draw down under the facility, which has been put in place to provide additional flexibility, if needed, to meet current and expected demand over the coming months.
Related Party Transaction
Cellulac is a subsidiary of Cellulac PLC and is treated as a related party under the AIM Rules for Companies ("AIM Rules"), as both
The Independent Directors, having consulted with
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+44 (0) 734 0055 648
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+44 (0) 113 370 8974
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+44 (0) 20 3657 0050
Integumen is a scientific research and AI-as-a-Service company focused on production and analysis of bacteria, virus and toxins utilising artificial intelligent data analytics in regulatory technology, from scientifically proving the impact of skincare product claims on skin microbiome for top 10 global cosmetic company clients to remotely detecting water contamination in real-time.
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on
This information is provided by RNS, the news service of the
Quick facts: Integumen
Market Cap: £29.02 m
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