On 3 August, Melita Capital plc announced that following the restructuring and capital injection referred to in the company announcement dated 23 December 2010, the Company’s ultimate shareholders, affiliate company Melita Mobile Ltd, Melita plc and a syndicate of banks (already financing part of the Group companies owned by the Company’s parent Superholdco Ltd) reached an agreement for the amendment to existing bank loan arrangements.
Under this new agreement, the ultimate shareholders of Melita Capital plc will inject a further €8.5 million to Melita Mobile Limited over and above the €10 million already injected between December 2010 and June 2011. Moreover, Melita plc will also make available a further €14.5 million loan facility to Melita Mobile Limited. This facility will be drawn down in series of tranches between 2011 and 2015 and is repayable in 2018.
Melita Group CEO Andre Torriani commented that the new injection is a reflection of the ultimate shareholders’ commitment to invest in the continued growth of the Melita Mobile business. Moreover the shareholders’ injection and the amended bank loan arrangements will allow the Melita Capital Group to pursue the investments required to achieve further growth.
The announcement also made reference to the seven year service contract between Melita Infrastrucutre Limited (which owns the high capacity fibre optic cable) and Melita plc. This agreement has been extended to December 2016.