Mobile Tornado (GB:MBT) has released an update.
Mobile Tornado Group PLC has announced the reassignment and term extension of its Revolving Loan Facility agreement, previously with InTechnology and now assigned to Holf Investments Limited, owned by Peter Wilkinson, a Non-Executive Director of Mobile Tornado. The agreement, which allows the company to draw, repay, and redraw up to £500,000, has been extended to September 2025, with current borrowings at £150,000 and accrued interest of £51,000. This financial maneuver, deemed fair by the company’s independent directors, is considered a related party transaction under AIM Rules.
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