Sutton Harbour agrees extension to bank loan repayments

Sutton Harbour Group updated the market on its bank loan on Thursday, reporting that it has agreed with its bankers to extend the repayment of £1.6m of its term loan from 31 October.

The AIM-traded firm said it would repay £0.9m on or before 31 October and £0.7m on or before 13 December.

“It is expected that the company will satisfy repayment of the £0.9m on 31 October from the net proceeds received from certain of the Harbour Arch Quay apartment sales, with the final apartment sale expected to complete in November,” the board explained.

Reporting by Josh White for Sharecast.com.