365 365 Agile Group

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

IODGGGWWGUPQGRM

(END) Dow Jones Newswires

November 18, 2016 02:00 ET (07:00 GMT)

365 Agile (LSE:365)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

365 Agile (LSE:365)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024