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  Paragon ID company press release from 09/06/2020

  09/06/2020 - 17:45

Paragon ID to receive a EUR 15 million loan guaranteed by the french State

Paragon ID (Euronext Paris - FR0011980077 - PID), the leading provider of identification solutions for Transport, e-ID, Traceability, Brand Protection and Payment, confirms the signature of an agreement with its banking partners for the granting of a direct loan in the amount of € 15 million.

This loan, 90% of which is guaranteed by the french State under the PGE state-guaranteed loan scheme, forms part of the support measures for businesses in the context of the Covid-19 pandemic (ministerial orders of March 23 and April 17, 2020 awarding the state guarantee to credit institutions and finance companies, implementing Article 6 of Law no. 2020-289 of March 23, 2020). The loan will have a maturity of one year with optional extension for up to five additional years under certain conditions. In that assumption, the company will have to agree before the end of the twelve months with its banking partners the conditions for the extension of this debt, in terms of interest cost and capital amortization.

For information, these funds are strictly reserved to cover working capital needs related to the effects of Covid-19 and therefore cannot be used for external growth operations or the payment of dividends.

In the United States, the American subsidiary of Paragon ID obtained funding of US$500k as part of the Paycheck Protection Program (PPP), a plan designed for SMEs to help support their business and workforce during the crisis. This loan is granted for a maximum of 2 years, with a grace period of 6 months. This loan could turn into a grant if the company undertakes to maintain employment.


Olivier Doye, Financial Director at Paragon ID, comments:

" From the start of the health crisis, the company immediately reacted in order to partially mitigate the impact of the pandemic on its activity, its results and its financial situation.

Financially, we have taken all possible measures to preserve our cashflow. I would like to thank our banking partners for their renewed confidence at this difficult time and our main shareholder Grenadier Holdings Plc – Paragon Group's investment holding company – for its assistance in securing this funding.

Obtaining this State Guaranteed Loan of € 15 million strengthens our financial structure in the short and medium term and provides us with additional liquidity to prepare for the end of the crisis. "


Financial agenda

2019/20 Q4 turnover 23 July 2020
2019/20 annual results 27 October 2020

These dates are given for information only, they are subject to change. The publications will take place before the opening of the Euronext markets.


About Paragon ID
Paragon ID is a leader in identification solutions, in particular in the e-ID, Transport & Smart Cities and Traceability & Brand Protection sectors. It recently entered the area of Payment through its acquisition of AmaTech Group and has built on this through its acquisition of Thames Card Technology in November 2019.
Paragon ID employs more than 750 staff, with manufacturing sites in US and Europe, close to its customers.
Paragon ID is listed on Euronext Paris with a majority of its shares being held by Paragon Group, a leading provider of Identification and Customer Communications services. Paragon Group has a turnover in excess of €1.25 billion and 8,000 employees. For further information about Paragon Group, visit
Euronext Paris - Share identification: Paragon ID - ISIN Code: FR0013318813 - Mnemonic code: PID.
For further information about Paragon ID, visit


Paragon ID
Clem Garvey
Tél.: +33 (0)2 48 81 61 00
[email protected]
ACTUS finance & communication
Investors Relations

Mathieu Omnes
Tél.: +33 (0)1 53 67 36 92
[email protected]
ACTUS finance & communication
Press Relation

Alexandra Prisa
Tél.: +33 (0)1 53 67 36 90
[email protected]

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  Original Source: Paragon ID