News blog
Parallel Media Group
- BY: Andrew Hore |
- POSTED: 02/01/2017 |
Parallel Media Group is borrowing a further £288,000 from its chairman.
David Ciclitira has loaned a total of £1.44m to the events marketing business. The cash is required for Parallel to meet contractual obligations. There is no interest charge but the loans are repayable on demand.
The share price fell 3p to 10.25p.
In February, Parallel expects to receive around £17,000 as part of its settlement with Arena Group. Parallel is losing money but it has been generating small amounts of cash from operations.
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