Malta, 1 June 2023:
River Tech plc (the "Company"), is pleased to announce the early repayment of
its outstanding loan originally received in 2019 amounting to EUR 15 million,
marking a significant achievement for the Company.
Referring to the announcement made on 27 May 2022, the Company had agreed with
the lender, Spinola Ventures Limited, to repay the loan by July 2023.
The Company has now successfully settled the entire remaining loan well before
the scheduled maturity date, demonstrating the Company's strong financial
position and prudent management practices. Following the full repayment of the
loan there remains no balance outstanding, and the Company and its subsidiaries
are now debt-free.
This early repayment not only highlights the Company's commitment to financial
discipline but also underscores its ability to generate substantial cash flows
from its core operations. The Company's focus on operational efficiency has
allowed it to achieve this milestone, paving the way for enhanced financial
flexibility and further growth opportunities, while remaining committed to a
balanced approach to capital structure and prudent financial management.
The Company expresses gratitude to its stakeholders, including employees,
shareholders, and lenders, for their continued support and confidence in the
Company's vision and strategic direction.
For further information please contact:
Luke Ciantar, CEO RIVER TECH
Phone: +356 99854724
Email: luke.ciantar@river.tech
About RIVER TECH: RIVER TECH P.L.C. is a technology company offering a B2B
technology product. Focusing on assisting companies with specialist
competencies, by providing secure and tailormade, yet user-friendly solutions,
for the delivery of services within the online sphere. RIVER TECH P.L.C. is
registered in Malta and is listed on Euronext Growth under the ticker symbol
"RIVER".
For more information about RIVER TECH P.L.C: https://www.river.tech/