Moneygate secures new backer as shareholder MGT cuts funding

It says on the basis a "new and substantial" funding line has been committed, MGT, which owns 49% of the group, has now closed a loan facility it made available to the company for acquisitions. MGT chief financial officer Allan Rowley says: "We can confirm Moneygate have secured additional finance that stands in the way of both MGT's current and future capital commitments. "In the short term, we will primarily be focusing our cash and resources on our investment holding in Medicsight plc. Quite simply Moneygate does not need further cash support from us." MGT Capital Investments is...