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Nektan PLC in a firm position to accelerate expansion after debt reduction

Lucy Buckley, chief executive of Nektan PLC (LON:NKTN), speaks to Proactive London's Andrew Scott after moves to significantly reduce the company's debt as well as the sale of a majority stake in its US operation.

Through a series of transactions the company's managed to reduce its debt commitments by 43% to £6.45 mln.

Nektan's also sold 57.5% of Respin to Alternative Investment Partners Limited (AIP), a different buyer than originally planned, for £300,000 cash plus the provision of US$800,000 in working capital.

Quick facts: Nektan PLC

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AIM:NKTN
Market: AIM
Market Cap: -
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Full interview: Nektan PLC set up for rest of world growth' following...

Nektan PLC's (LON:NKTN) Gary Shaw speaks to Proactive London's Andrew Scott following its half year update to December 2019. The business-to-business (B2B) division in the period saw revenues rise 153.1% to £787,000 from the preceding six months’ total of £311,000. Shaw says the story's...

on 31/1/20

2 min read