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Marketing services provider Media Square has increased its revolving credit facility with Bank of Scotland from £4m to £6m.
The facility will last until the end of October 2012. Media Square was using £900,000 of the facility at the end of February 2011 but management wants extra flexibility going forward. Reducing overall borrowings is still a priority.
This agreement follows the appointment of Dean Wright as finance director. His predecessor Bruce Winfield died in March. Wright had been group financial controller.
At 4.62p a share, Media Square is valued at £1.67m.
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