Directa Plus gets another recovery loan from Italian government

Graphene nanoplatelet technology company Directa Plus announced on Thursday that its Italian subsidiary Directa Plus S.p.A has qualified for an additional €0.5m loan under the Italian government's Covid-19 Recovery Plan.

The AIM-traded firm said the funds followed the receipt of the €0.7m loan, announced on 2 August.

It said it was taking advantage of the low-cost liquidity being offered by the Italian government, in a bid to accelerate its strategic programme.

The new loan was provided by major Italian bank Banca Popolare di Sondrio, with a term of six years, a variable interest rate of 1.5% plus three-month Euribor, and was 80% guaranteed by the Italian state.

“Directa Plus will leverage on these additional funds offered at low cost by the Italian government to accelerate its strategic programme and continuing growth,” said founder and chief executive officer Giulio Cesareo.

At 1423 BST, shares in Directa Plus were down 1.17% at 127p.