Loan Facility
20 December 2007 - 4:34AM
UK Regulatory
Loan Facility
TARQUIN RESOURCES PLC
("Tarquin" or "the Company")
19 December 2007
LOAN FACILITY
The directors of Tarquin Resources plc (AIM : TQN) are pleased to
advise that the Company has secured a �1.3 million loan facility from
Investika Ltd. The loan bears interest at 9.5% per annum on funds
drawn, is secured by a negative pledge over the Company's equity
interest in Tommy SA and is repayable by 31 July 2008, either in cash
or convertible into shares in the Company at 25p per share, at
Investika's option. The facility bears a facility fee of �65,000,
being 5 per cent. of the amount of the facility. Funds drawn from
the facility will be utilized to meet the Company's working capital
requirements.
Mr Chrisilios Kyriakou, a director of the Company, is also a director
of Investika Ltd and accordingly Investika Ltd is a related party of
the Company.
With the exception of Mr Kyriakou, the Company's directors consider,
having consulted with the Company's nominated adviser, that the terms
of the transaction are fair and reasonable insofar as its
shareholders are concerned.
For further information:
Annie Richards, Tarquin Resources plc +44 (0) 20 7514 1480
Hugh Oram, Nabarro Wells & Co Ltd +44 (0) 20 7710 7400
Charles Vivian, Pelham Public Relations +44 (0) 20 7743 6670
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