StockMarketWire.com - Lottery and payments company St James House said it had issued a convertible note, helping to provide an adequate level of working capital for the year through January 2021.

The company said its revenue for the year through January 2020 had crept up to £952k, from £938k on-year.

It had entered into a an unsecured convertible loan note agreement for £415k with a small number of investors, some of them existing shareholders.

The note had a maturity date of 6 July 2023 and was convertible at a price of 10p per share until maturity. It paid a coupon of 5% annum.

St James House said its payments division continued to improve, with EURO IBAN account openings rising a further 16% between 3 April and 17 June.

'We are continually monitoring performance and the impact of Covid-19, which to date has had some impact when arranging meetings with potential merchants,' it added.

'However we expect client visits to return to normal as the restrictions on movement and social distancing are relaxed over the coming weeks.'

In the lottery business, the company said Prize Provision Services had been largely unaffected by Covid-19.'

'While there has been a small decrease in the number of entries into the lotteries which PPS administers, overall lotteries have been shown to be an extremely robust form of fundraising in comparison to other popular fundraising methods,' it said.

'The robust nature of lottery fundraising has led to numerous current and new clients contacting PPS to place greater focus on lottery fundraising and the company expects to see an overall increase in entries during the second half of 2020.'

'The overall number of lines played during June 2020 is on a par with June 2019.'




At 1:27pm: [LON:SJH] share price was 0p at 15p



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