Italian Government Covid-19 recovery loans

LONDON, UK: Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, announces that its Italian subsidiary, Directa Plus S.p.A., has qualified for a total of €0.7m in loans under the Italian Government’s Covid-19 Recovery Plan.

The Company took advantage of the low-cost liquidity offered by the Italian Government in order to accelerate its strategic programme.

The funds are being provided in two tranches by Intesa Sanpaolo S.p.A.: a €0.5m loan and a €0.2m leasing loan to fund the acquisition of new machinery for the Company’s production facility.

The loans have a term of 5-6 years, a variable interest rate of 1.5-1.8% +EURIBOR 3M and are 80-90 per cent guaranteed by the Italian Government.

Exploiting the same government measure the company is negotiating with another major Italian bank an additional € 0.5m loan. Further announcements will be made in due course.

Commenting, Giulio Cesareo, Founder and CEO of Directa Plus said: “This measure offered by the Italian Government to respond to COVID crisis will be utilised by Directa to accelerate activities in areas where our G+ graphene has a significant competitive advantage like environmental, batteries, anti-viral and anti-bacterial textiles.”

Directa Plus PLC share price

101.78 GBX+0.78 (0.77%)today

30 Jul, 4:18 pm GMT+1 ·Disclaimer

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