Bingo operator Top Ten has signed new three-year banking facilities with its bankers, the Royal Bank of Scotland, which includes the conversion of nearly £13 million of existing senior debt into a mezzanine loan.
Chairman Sir Aubrey Brocklebank said the new financing facilities will give the company "a reasonable period to rebuild its profit base".
The facilities include a warrant for RBS to subscribe for 10 per cent of its share capital at 20p per share at any time prior to April 2013.