Överumans Fisk AB, a Swedish subsidiary of AS PRFoods, borrows money to kick-start a fish farming and to support its working capital
Överumans Fisk AB, a subsidiary of AS PRFoods, entered into loan agreements with Amber Trust II S.C.A., SICAR and Lindermann, Birnbaum & Kasela OÜ to borrow up to EUR 1,000,000 (up to EUR 500,000 from each lender). The repayment term of both loans is 31.12.2022 and the interest is 6.25% per annum.
The money is borrowed to support the start-up phase of Swedish fish farming and to boost company's working capital at the same time. Fish will be farmed in Sweden's largest and most environmentally friendly farm, using predominantly hydroelectric power or other renewable energy sources. The CO2 footprint of the fish farm is also about 1/3 smaller than, for example, in RAS-type i.e. terrestrial farms.
The lenders are the shareholders of AS PRFoods and thus the related persons within the meaning of the “Requirements for Issuers” regulations of the Nasdaq Tallinn Stock Exchange.