Duke Royalty provides financing to new partner Miriad Products
Source - SMW
Alternative capital provider Duke Royalty said it had provided a £10m of royalty financing to the MRDB Holdings, which trades as Miriad Products.
Miriad was the largest privately-owned recreational vehicle parts wholesale company in the UK, the company said.
It had become Duke's 12th royalty partner, further diversifying the company's revenue base.
'Importantly, Duke's existing cash holdings and acquired debt facility mean that we are well positioned to make more investments in the coming months,' chief executive Neil Johnson said.
At 1:45pm: (LON:DUKE) Duke Royalty Limited share price was +0.3p at 41.5p