Premier Veterinary Group PLC confirmed that as set out in the announcement made on 23 December 2019 it has agreed with Bybrook Finance Solutions Limited ("BFSL" a company of which Rajan Uppal, a director of PVG, is the sole director and Shareholder) to amend the facility agreement dated 25 January 2019 relating to a loan of £3.85 million by (i) rolling up the monthly interest payments due to BFSL and applying interest on a compound basis calculated at the end of each month; and (ii) extending the repayment date of the loan (and accrued interest) from 25 January 2021 to 31 July 2021. On 28 January 2020 PVG entered into a further agreement with BFSL to provide an additional secured loan facility of £1.1 million. The first tranche of £0.6 million was drawn on 29 January 2020 with two further tranches of £0.25 million each available for draw down at PVG's request on 22 May 2020 and 24 July 2020. These further tranches can only be drawn by PVG if on or before 30 April 2020 it has issued BFSL with warrants to subscribe for up to 383,673 new PVG ordinary shares of 10 pence each at an exercise price of 10 pence per share within 5 years of the issue of any such warrants. Interest of 1% per month accrues on the loan facility on a monthly compound basis and is added to the total loan amount. The total loan together with accrued interest is repayable on 30 April 2020 with an option for PVG to extend the repayment date to 31 July 2021 by issuing the warrants referred to above. The loan will be utilised by PVG to fund the Group's working capital requirements including the payment of a £100,000 arrangement fee payable to BFSL.