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ShareRoot Ltd

ShareRoot receives funding from European parliament member

The company is working on the development and implementation of a new sharper vision and business plan.

toy blocks that read the word funding
The company recently appointed a new CEO in Michelle Gallaher

ShareRoot Ltd (ASX:SRO) has received $200,000 funding in the form of a convertible loan agreement with its major shareholder, Antanas Guoga (Tony G).

Tony G became a major shareholder when his stake increased to 6.8% back in December 2018.

He is a member of the European parliament and has been actively involved in the EU’s General Data Protection Regulation (GDPR) legislation which came into effect in May 2018.

READ: ShareRoot appoints Michelle Gallaher CEO, new business plan to be released

The loan, which expires on 30 March 2020 has interest payable of 8% per annum on a six monthly basis and may be converted to shares priced at 0.1 cents.

Last month, ShareRoot appointed Michelle Gallaher as its CEO.

Gallaher was been promoted from managing director of The Social Science (TSS), a specialist social media marketing agency that was acquired by ShareRoot in April 2018.

Quick facts: ShareRoot Ltd

Price: $0.00

Market: ASX
Market Cap: $4.27 m
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