Bifogade filer
M Vest Water Secures Credit Facility
Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Energi & Miljö |
| Industri | Miljö & Återvinning |
BERGEN, Norway, March 6, 2025 – M Vest Water AS (Euronext Growth OSE: MVW), announces that it has entered into a shareholder loan facility with two of its main shareholders, pursuant to which the shareholders will make available up to NOK 12 million.
M Vest Water is experiencing an increase in project activity and demand for our NORWAFLOC® and NORWAPOL® solutions across all key segments. A tightened regulatory framework, specifically EU regulations, is a significant driver behind the increased demand for our natural products and solutions.
Due to the heightened project activity and pilots in collaboration with industry leaders within our key segments, M Vest Water has decided to finance the increase in working capital with a credit facility of NOK 12 million. This credit facility is provided by two main shareholders in the company.
“As we communicated during our Q4 presentation, we are confident in our current financial situation. Our baseline of recurring revenue, combined with this credit facility, will support the ongoing increase in our working capital and project activity”, says Executive Chairman Tor Olav Gabrielsen.
The facility is unsecured and contains customary covenants and event of default provisions. The facility is unsecured and will not be amortizing and any drawn amounts are to be repaid on or before December 31.12.2025. Amounts drawn under the facility will carry interest at a rate of NIBOR 3M + 6% per annum and a commitment fee of 1.5% per annum on any undrawn part of the facility.