- Frenkel Topping said FCFM Group Properties IV (NewCo) repaid the £3m commercial property SPV loan to the group on 30 June.

In addition, NewCo had acquired the group's 37.5% interest in NewCo for £150,000, an amendment to the original terms of the agreement.

It said that as a result of these payments, the group had received approximately £3.3 million of cash from NewCo, having initially provided £3.0 million of financing to NewCo on 23 January.

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