MEA Medsea Estates

RNS Number:5200X
Medsea Estates Group PLC
31 May 2007


Medsea Estates Group plc

31 May 2007


                            Medsea Estates Group plc
                          ("Medsea" or "the Company")

                           Related Party Transactions

In 2006 and 2007, the Company entered into certain transactions which are
classified as related party transactions under the AIM Rules for Companies and
which were disclosed in the Report and Accounts for the year ended 31 December
2006. These transactions involved (a) a loan of #364,000 to Tojuca Investment
SL, a property development company in which Tony Gatehouse and Juan Carlos
Rodriguez Martinez (respectively chairman and chief executive of the Company)
held a material interest and (b) the conversion of that loan and balance of
#342,000 in respect of commission receivable from Tojuca Investment SL into an
equity interest of 30% in Eurobond Investments S.L. representing an effective
interest of 24%  in Residential Argos Sol S.L. the company to which was
transferred the development land originally owned by Tojuca Investment SL. The
equity interest held by the Company had a market value of #960,000 based on an
independent valuation of the land interest. Tony Gatehouse and Juan Carlos
Rodriguez Martinez each hold a shareholding of 20.4% in Eurobond Investments
S.L., representing an effective interest of 16.3% in Residential Argos Sol S.L.
The balance due by Tojuca Investment SL to the Company after the conversion of
the #364,000 loan mentioned above amounted to #197,000 and is wholly repayable
in 2007.

The independent directors of the Company consider, having consulted with HB
Corporate the Company's Nominated Adviser, that the terms of the transactions
are fair and reasonable insofar as its shareholders are concerned."


For further information please contact:

HB Corporate
Imran Ahmad/ Ed Hutton/ Rachel Kane                         +44 (0) 20 7510 8600

Weber Shandwick Financial
Terry Garrett/ Alex White/ John Moriarty                    +44 (0) 20 7067 0700


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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