Bonhill Group PLC Update on US Paycheck Protection Program loan (5157K)
January 05 2021 - 1:00AM
UK Regulatory
TIDMBONH
RNS Number : 5157K
Bonhill Group PLC
05 January 2021
5 January 2021
Bonhill Group plc
("Bonhill", the "Company" or the "Group")
Update on US Paycheck Protection Program loan
On 29 May 2020, Bonhill Group Plc (AIM: BONH), a leading B2B
media business specialising in three key areas: Business
Information, Events and Data & Analytics, announced that it had
received a loan as part the US Paycheck Protection Program ("PPP").
This loan, amounting to $1.1m, was made to protect US jobs and,
provided the Company used it for employee retention, payroll and
other eligible purposes, it could make an application for the PPP
loan to be forgiven, thereby converting it into a grant.
In its interim results announcement released on 15 September
2020, the Company stated that "The PPP loan is expected to be fully
forgiven and converted to a grant in Q4 2020 once the application
process is opened by the lending bank". The application for
forgiveness was made by the Company in November 2020. The Company
is pleased to announce that, according to the lending bank's
administration portal, the PPP loan was fully forgiven in late
December 2020.
The result of this successful application has no impact on, and
does not change, the Company's previous expectations for the
outturn for the year ended December 2020. The Company expects to
announce its pre-close update for the year ended December 2020 in
mid-January 2021.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 ("MAR").
For further enquiries please contact:
Bonhill Group plc +44 (0)20 7250 7035
Simon Stilwell, Chief Executive
Sarah Thompson, Chief Financial Officer
Shore Capital (Nominated Adviser and Joint
Broker) +44 (0)20 7408 4080
Tom Griffiths
David Coaten
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 Information, Events and Data & Insight
propositions to Financial Services, Diversity and Technology
business communities in 25 countries. Bonhill operates fifteen
information websites, publishes three 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 .
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END
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