Proactiveinvestors Australia

Sarantel www.sarantel.com/
Full Sarantel profile here

Sarantel’s revolutionary ceramic filtering antennas offer dramatically improved performance over existing antenna designs, resulting in a clearer signal, better range and a 90 per cent reduction in the amount of signal radiation absorbed by the body.

Tweet

 

Email

Email to a friend:

To:

Separate multiple addresses with commas.

From Email address:

Name: Please send me a copy Message:

Verification code

Enter the code from aboveRequired

Send

Sarantel secures £2 million loan facility

Miniature antenna maker Sarantel (LON:SLG) has secured a £2 million loan facility, which it says will help the group reach profitability.

The loan has been agreed with HSBC bank, the firm said in a statement.

It is an interest only and is available for two years and can be drawn down in stages, it added. Interest is payable quarterly at the rate of 3 per cent per year over the bank's sterling base rate. 

Chief executive David Wither said: "I believe this facility, along with the successful contract wins we have had in recent months, will give us the headroom we need to take the group forward to profitability."

Last month, the firm revealed it had won its largest order ever, which will have a significant impact on revenues and cash flow this year.

The order is from an unnamed US military radio manufacturer, which will use Sarantel’s GeoHelix GPS antennas across a range of its products.

The company said it was part a multi-year supply contract expected to be delivered over the next 12 months.

Sign up to Proactive Investors

Comments from Proactive Investors readers

• Fill in your details below:

Verification Code

Reload image