WFC Watford Leisure

 

TIDMWFC 
 
RNS Number : 0681G 
Watford Leisure PLC 
25 January 2010 
 

 
 
Watford Leisure PLC 
("Watford Leisure" or the "Company") 
 
 
Related Party Loan 
 
 
Watford Leisure announces that on 25 January 2010, the Company's 96 per cent. 
owned subsidiary,  The Watford Association Football Club Limited ("WAFC"), 
entered into a loan agreement with David Fransen, a Non-Executive Director of 
the Company. The agreement is in respect of a short term unsecured loan of up to 
GBP500,000 to WAFC for the purpose of assisting with the working capital 
requirements of the business including potential player transfer activity during 
the January transfer window (the "Loan"). 
 
 
The Loan accrues interest at the rate of 3.5 per cent. above the base rate from 
time to time of Barclays Bank plc and is repayable on or before 31 May 2010. 
 
 
The provision of the Loan is deemed to be a related party transaction under the 
AIM Rules for Companies.  Accordingly, the independent directors of the Company 
consider, having consulted with Strand Hanson Limited, that the terms of the 
Loan are fair and reasonable insofar as the Company's shareholders are 
concerned. 
 
 
Enquiries: 
 
 
Watford Leisure PLC 
Tel: 01923 496 000 
Graham Taylor, Interim Chairman 
Julian Winter, Chief Executive Officer 
 
 
Strand Hanson Limited 
Tel: 020 7409 3494 
Rory Murphy 
 
 
Square1 Consulting Ltd 
Tel: 020 7929 5599 
Paul McGoohan 
David Bick 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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