Short Term Loan
20 December 2008 - 12:42AM
UK Regulatory
RNS Number : 4990K
London Town PLC
19 December 2008
19 December 2008
LONDON TOWN PLC ("London Town" or "the Company")
Short term unsecured loan of �3.0 million
On 19 December 2008 the Company obtained a short term unsecured loan of �2.1million from Burac Invest and Trade and Corp ("Burac") and a
further �0.9 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 19 June 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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