LTW London Town

    RNS Number : 5052E
  London Town PLC
  29 September 2008
   

    29 September 2008

    LONDON TOWN PLC ("London Town" or "the Company")

    Short term unsecured loan of �2.0 million


    On 26 September 2008 the Company obtained a short term unsecured loan of �1.4 million from Burac Invest and Trade and Corp ("Burac") and
a further �0.6 million from Robar Limited ("Robar"), together (the "Loans"). The Loans are to be used for general working capital purposes.
The Loans are repayable with interest at 15%, calculated at quarterly rests, no later than 25 March 2009. There is no penalty for early
repayment. 

    Burac and Robar, being substantial shareholders of the Company, are related parties for the purposes of the AIM rules and, under the AIM
rules, the Loans are related party transactions. Having consulted with Cenkos Securities plc, the Company's nominated adviser, the directors
of the Company consider that the terms of the Loans are fair and reasonable insofar as its shareholders are concerned.



    For further information, please contact 

    Nicholas Wells/Max Hartley

    Cenkos Securities plc                    020 7397 8924



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