Glantus Holdings PLC - Dublin-based data platform for accounts payable and shared services - Enters new additional short term working capital facility. Expands the permitted drawdown of existing debt facility by EUR1.5 million until December 31, after concluding negotiations with its lender Beach Point Capital.

"The costs attached to the facility are fixed at 2%, equating to EUR30,000, plus EUR5,000 legal fees. This new facility, is expected to be repaid from the company's cash flow prior to the 2022 year-end," it says.

Following the "rapid, operational transition" to relocate its US accounts payable audit function to Costa Rica over the last four months, Glantus says staff in Costa Rica have been fully trained, and have been working on live audits since the start of the month. "While the centre has only been operational for a short time, the company is pleased with performance so far," it says.

Current stock price: last quoted at 9.73 pence each on Friday

12-month change: down 89%

By Elizabeth Winter; elizabethwinter@alliancenews.com

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