18 December 2019
Trakm8 Holdings plc
('Trakm8', the 'Group' or the 'Company')
New Growth Capital Loan
Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight provider, is pleased to advise that following a period of stabilised revenues, and with the Group returning to growth it has entered into a £1.4m (net of costs) Growth Capital Loan with MEIF WM Debt LP to fund the potential working capital requirements. This loan is repayable in instalments by 30 June 2024.
The Group is also pleased to announce that it has now received its R&D corporate tax credit cash of £1.01m.
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For further information:
Trakm8 Holdings plc |
|
John Watkins, Executive Chairman |
Tel: +44 (0) 167 543 4200 |
Jon Furber, Finance Director |
www.trakm8.com |
|
|
Arden Partners plc (Nominated Adviser & Broker) |
Tel: +44 (0) 20 7614 5900 |
Paul Shackleton, Corporate Finance Fraser Marshall, Sales |
www.arden-partners.com |
About Trakm8
Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.
The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 240,000 connections.
Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, Direct Line Group and Young Marmalade.
Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.
www.trakm8.com / @Trakm8
