Loan to a subsidiary from the US government program to support business during the coronavirus pandemic
Current Report No. 7/2021
Date: 24/03/2021
Legal basis: Article 17(1) of MAR – inside information
The Management Board of the Company informs that the subsidiary Medi-Lynx Cardiac Monitoring LLC („Medi-Lynx”) received a Paycheck Protection Loan of USD 2 million under the „CARES Act” adopted by the US Congress as economic support for business during the coronavirus pandemic. The funds from this loan will be used to finance certain operating activities, including salary expenses.
Pursuant to the CARES Act, part or all of the loan, expended under certain conditions is non-returnable. The remainder of the loan, if any, will be repaid within 60 months and bears an interest rate of 1% per annum.