Loan Agreement
12 11월 2007 - 6:09PM
UK Regulatory
RNS Number:4674H
Crystalband PLC
12 November 2007
Crystalband Plc
("Crystalband" or the "Company")
Loan Agreement
The directors of the Company announce that its subsidiary, Frame 1 (2004)
Limited ("Frame 1") entered into a loan agreement today with the Trustees of the
Alan Rothwell Pension Plan (the "Trustees") in which Alan Rothwell, a director
of the Company has a beneficial interest. This loan will enable Frame 1 to
repay, in full, existing loans made to it in March 2007 by unrelated third
parties.
Pursuant to the loan agreement, Frame 1 has borrowed #270,000 form the Trustees.
The loan is unsecured and is repayable within 5 years of today's date. The
loan is to bear interest at a fixed rate of 10% per annum.
The directors of the Company (other than Alan Rothwell) consider, having
consulted with its nominated adviser, WH Ireland Limited, that the terms of the
agreement are fair and reasonable insofar as its shareholders are concerned.
For further information, please contact:
Geoff Dallimore (Crystalband) 0161 727 3034
David Youngman (WH Ireland) 0161 832 2174
This information is provided by RNS
The company news service from the London Stock Exchange
END
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