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  • BY: Andrew Hore |
  • POSTED: 10/09/2009 |

GETECH Group has secured a £1m loan facility which it expects to draw down in the next few weeks.

The geological data and studies provider had net cash of £1.63m at the end of January 2009, but there is still £886,000 of deferred consideration payable for Lisle Gravity. Second half trading has been disappointing.

The loan facility is repayable over four years and is secured on the company’s property Elmete Hall. The interest charge is 1.6% over LIBOR.

At 21p a share, GETECH is valued at £6.14m. 

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