365 Agile Group PLC Loan Note Repayment (5174P)
18 11월 2016 - 4:00PM
UK Regulatory
TIDM365
RNS Number : 5174P
365 Agile Group PLC
18 November 2016
365Agile Group plc
("365Agile" and the "Company")
Loan note repayment
As reported in the interim results announcement on 27 September
2016, the Company has GBP335,000 5% loan notes outstanding which
were issued at the time of the Easytherm acquisition and which are
due for repayment on 23 November 2016. In order to meet this
repayment, the Company has entered into a GBP275,000 loan facility
with MXC Capital Limited ("MXC") (the "Loan"). Interest is payable
on the Loan at a rate of 10 per cent. per annum. The Loan is
unsecured, has a one year term and, in the absence of a qualifying
acquisition, will be repaid with the cash receipts from the
Company's licence agreement with Castleton Technology plc.
MXC is a related party of the Company as defined by the AIM
Rules for Companies by virtue of being a substantial shareholder in
the Company. The independent director of 365Agile, being Clive
Carver, considers, having consulted with the Company's nominated
adviser finnCap Limited, that the terms of the Loan are fair and
reasonable insofar as the Company's shareholders are concerned.
Contacts:
365 Agile Group plc +44 (0) 345 504 0365
Clive Carver, Non-executive Chairman
finnCap Limited +44 (0)20 7220 0500
Geoff Nash/Scott Mathieson
MXC Capital Markets LLP +44 (0)20 7965 8149
Charlotte Stranner/ Marc Young
This information is provided by RNS
The company news service from the London Stock Exchange
END
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