Tricorn Group PLC Update on USA Payroll Protection Program loan (6368L)

TIDMTCN

RNS Number : 6368L

Tricorn Group PLC

14 September 2021

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014, as implemented into English law ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.

14 September 2021

Tricorn Group PLC ("Tricorn" or "the Company")

Update on USA Payroll Protection Program loan

In the announcements on 12 April 2021 and 19 April 2021, Tricorn Group plc (AIM: TCN.L), the AIM listed tube manipulation specialist, advised that it had received a 2(nd) draw loan as part the USA Payroll Protection Program ("PPP").

This loan, amounting to $0.7m (GBP0.55m), was made to protect US jobs and has been used for employee retention, payroll and other eligible purposes.

The application for forgiveness of this loan was made by the Company in August 2021 and the Company is pleased to announce that, according to the lending bank's administration portal, the PPP loan has been fully forgiven, thereby converting it into a grant.

Enquiries:

 
Tricorn Group plc                                             www.tricorn.uk.com 
 Andrew Moss, Chairman                                         +44 (0)7768 306 701 
 Michael Stock, Chief Executive and Group Finance Director     +44 (0)7894 784 106

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September 14, 2021 02:00 ET (06:00 GMT)

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