Photonstar LED updates on working capital facility
Source - SMW
PhotonStar LED has extended its £1.65m working capital facility with ABN AMRO Commercial Finance PLC which was announced on 30 November 2015.
The ABN AMRO Facility was implemented to provide a greater flexibility to the Group in its drawdown arrangements and in the concentration limits applied for larger customers.
The quantum available under the terms of the ABN AMRO Facility remains unchanged but its applicability has now been extended in order to support the Group's subsidiary company PhotonStar Technology Limited ("PST"), which has recently been focussing on the development of PhotonStar's HalcyonTM business.