Sports Stars Media plc Shareholder Loan (5730T)

TIDMSPSM

RNS Number : 5730T

Sports Stars Media plc

21 November 2013

Sports Stars Media plc

("Sports Stars" or the "Company")

Shareholder Loan

Sports Stars Media plc ("Sports Stars"), the Portuguese based sports animation and media company, announces that it has entered into a EUR250,000 loan agreement (the "Loan") with Pinto Mascarenhas II Soc. Investimentos ("PMSI") to assist in the funding of the Company's working capital requirements until the anticipated sales revenues in 2014. PMSI is controlled by Miguel Mascarenhas who is a shareholder in Sports Stars.

The Loan is unsecured and will accrue interest at a rate of 10% per annum. The Loan is repayable at the discretion of the Company anytime in the next two years. The two year period can be extended at the discretion of PMSI after 12 months. It is intended that Miguel Mascarenhas will be appointed to the board of the Company in due course.

Miguel Mascarenhas is a substantial shareholder, with a beneficial interest of 11.9 per cent. of the issued share capital of the Company, and is consequently a related party of the Company for the purposes of the AIM Rules. The Directors of Sports Stars, having consulted with the Company's nominated adviser, believe the terms of the loan to be fair and reasonable insofar as shareholders are concerned.

For further information:

 
 Sports Stars Media plc 
 Ruben Dias (Chief Executive Officer)      Tel: +1604 902 2214 
 Sanlam Securities UK Limited (Nominated 
  Adviser and Broker) 
 Lindsay Mair / Katie Shelton              Tel: +44 (0) 207 628 
                                            2200 
 Newgate Threadneedle (Financial PR) 
 Josh Royston / Heather Armstrong          Tel: +44 (0) 207 653 
                                            9850

This information is provided by RNS

The company news service from the London Stock Exchange

END

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