TIDMPMG

RNS Number : 5015G

Parkmead Group (The) PLC

26 July 2021

26 July 2021

The Parkmead Group plc

("Parkmead" or "the Company")

Extension of Loan

The Parkmead Group plc is pleased to announce a 24-month extension to the interest-bearing loan to Energy Management Associates Limited ("EMAL") of GBP2.9 million (the "Loan") ahead of the expiry of the loan on 27 July 2021. By providing this facility, Parkmead benefits from an exclusive arrangement to join EMAL in new ventures being evaluated by the Company, including inter alia potential opportunities relating to renewable energies. The Loan will continue to bear a fixed interest rate of 2.5 per cent per annum, payable to Parkmead. The entry by the Company into the Loan extension with EMAL, in which Tom Cross is a director and shareholder, is a related party transaction for the purposes of Rule 13 of the AIM Rules. The Directors (other than Tom Cross), having consulted with FinnCap, consider that such arrangements with EMAL are fair and reasonable insofar as the Company's shareholders are concerned.

Enquiries:

 
 The Parkmead Group plc             +44 (0) 1224 622200 
 Ryan Stroulger (Chief Financial 
  Officer) 
 
 finnCap Ltd (NOMAD and Broker 
  to Parkmead)                      +44 (0) 20 7220 0500 
 Marc Milmo / Seamus Fricker 
  - Corporate Finance 
 Andrew Burdis / Barney Hayward 
  - ECM

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCFZGZNDVVGMZM

(END) Dow Jones Newswires

July 26, 2021 10:45 ET (14:45 GMT)

Parkmead (LSE:PMG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Parkmead.
Parkmead (LSE:PMG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Parkmead.