UK - LEF invests £1m into Rapid Action Packaging

The loan can be drawn down to a maximum of £1m until 31 March 2010 and is fully repayable by May 2011. Interest on the loan is 8% per year, payable semi-annually in arrears. If the facility is fully drawn, LEF will receive five year warrents to subscribe for new shares equivalent to 4.2% of the fully diluted share capital of RAP.

UK-based RAP specialises in the design, manufacture and supply of ergonomic, cost effective and environmentally responsible packaging systems, particularly for the 'food on the move' market.

The facility will be used to fund equipment installation costs and planned increased stock levels in advance of a new product launch in the UK, Continental Europe and North America in the first quarter of 2010.

LEF invested £4m in RAP in May 2008.

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• Topics
• Expansion
• UK / Ireland