Bonhill Group PLC PPP2 Loan Received (8391T)
March 29 2021 - 7:11AM
UK Regulatory
TIDMBONH
RNS Number : 8391T
Bonhill Group PLC
29 March 2021
29 March 2021
Bonhill Group plc
("Bonhill", the "Company" or the "Group")
PPP2 Loan Received
Bonhill Group plc (AIM: BONH), a leading B2B media business
specialising in three key areas: Business Information, Events and
Data & Insight, announces that its wholly owned subsidiary,
Bonhill Group Inc., has received loans totalling $1.3 million under
the US Small Business Administration's second Paycheck Protection
Program ('PPP2') which is part of the Coronavirus Aid Relief and
Economic Security Act ('CARES Act').
As was the case with the PPP loan of $1.1 million received by
Bonhill Group Inc. in May 2020, the PPP2 loan, or a portion of the
loan, may be forgivable if the proceeds of the loan are used for
eligible purposes, including employee retention and payroll. As
announced on 5 January 2021, the PPP loan received by Bonhill Group
Inc. in May 2020 was forgiven in full.
The Board currently expects that, based on prior experience, a
significant proportion of the PPP2 loan will be eligible for
forgiveness in the Company's financial year ending 31 December 2021
("FY 2021"). The Group's guidance on revenue and EBITDA for FY
2021, as set out in its audited final results for the year ended 31
December 2020, which were released on 24 March 2021, excludes the
impact of any Government support such as PPP2 loan receipts or
forgiveness. Receipt of the PPP2 loan adds additional liquidity to
the Group's current cash position which as at 28 February 2021
stood at GBP1.6 million.
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 (Corporate Advisory)
Canaccord Genuity Limited (Joint Broker)
Bobbie Hilliam
Georgina McCooke +44 (0)20 7523 8000
Houston (PR Adviser)
Alexander Clelland
Polly Fairbank +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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCLKLFLFXLBBBV
(END) Dow Jones Newswires
March 29, 2021 08:11 ET (12:11 GMT)
Bonhill (LSE:BONH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bonhill (LSE:BONH)
Historical Stock Chart
From Apr 2023 to Apr 2024
