Eruma receives further financial support from shareholder

AIM-listed specialist provider of counter terrorism, intruder prevention and intelligent lighting solutions Eruma announced Friday that it has entered into a further convertible loan agreement with one of its shareholders, Ian Diery, in an effort to ease its working capital constraints.

AIM-listed specialist provider of counter terrorism, intruder prevention and intelligent lighting solutions Eruma announced Friday that it has entered into a further convertible loan agreement with one of its shareholders, Ian Diery, in an effort to ease its working capital constraints.

The £50,000 loan has an interest rate of 0%, a conversion rate of 2p per share, and a term of five years.

In a statement the company said: "The company continues to experience working capital constraints and needs to raise additional capital in the near future.

"The directors consider, having consulted with the company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned."

Diery now has an interest in 3.29m ordinary shares, equal to around 13% of the current issued share capital.

NR

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