WFCA Wfca

TIDMWFCA

RNS Number : 4184Z

WFCA PLC

15 March 2012

15 March 2012

WFCA plc

("WFCA", "the Company" or "the Group")

FINANCING UPDATE

WFCA plc (AIM: WFCA.L), a leading regional advertising and marketing agency, is pleased to announce that it has received a GBP300,000 loan from Hawk Investment Holdings Limited ("Hawk") to assist it with its short term working capital requirements. The need for the loan arose from the delay by new clients in commencing their media activity. The loan is secured by a debenture, is repayable after 180 days and incurs interest at a rate 1% per month.

Hawk is beneficially owned by Bob Morton, the Company's non-executive Chairman, and Susan Morton.

The Loan falls to be treated as a related party transaction pursuant to the AIM Rules. Stephen Latter, Robert Hamer, Rodger Braidwood and John Foley, being the independent directors (Bob Morton being excluded from such decisions being a related party) consider, having consulted with Daniel Stewart & Company (the Company's Nominated Adviser), that the terms of the Loan are fair and reasonable insofar as the shareholders of WFCA are concerned.

Further enquiries:

WFCA plc

   Stephen Latter, Financial Director                Tel: 01892 703 201 

Daniel Stewart & Company plc

   David Hart & James Felix                            Tel: 020 7776 6550 

WFCA plc is a uniquely placed full service Marketing Communications Agency and positioned as the "London Agency not in London". Their role is as a different kind of Agency, with completely integrated and full service resource delivering advertising, design, direct, digital and media solutions to a wide range of blue chip Clients, but at a much lower cost than their London based competitors.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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