LONDON (ShareCast) - (Sharecast News) - Promotions firm SpaceandPeople said on Friday that it was in the process of securing an additional ?1m from its principal lender in order to help it weather the Covid-19 storm.
SpaceandPeople said its request for more bank debt through one of the UK government's coronavirus support schemes had received credit approval and was progressing through legal documentation.

The AIM-listed firm added that it was optimistic that the funds would be received shortly.

"When this additional lending has been received, the board will have greater certainty about the future trading of the business," said SpaceandPeople, which also postponed the release of its 2019 preliminary results.

As far as the pandemic was concerned, SpaceandPeople said its two main geographical markets continued to be "severely affected" by the outbreak.

As of 1145 BST, SpaceandPeople shares were up 14.29% at 6p.

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