WFCA PLC Financing Update (8182L)
08 September 2012 - 2:09AM
UK Regulatory
TIDMWFCA
RNS Number : 8182L
WFCA PLC
07 September 2012
10 September 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 agreed an
extension to the GBP300,000 loan ("Loan") from Hawk Investment
Holdings Limited ("Hawk") which was announced on 15 March 2012 and
which was scheduled to expire today. All other terms of the Loan
remain unchanged; it continues to be secured by a debenture and
incur interest at a rate 1% per month. The Loan is now repayable on
6 March 2013 being 180 days after 7 September 2012.
Hawk is beneficially owned by Bob Morton, the Company's
non-executive Chairman, and Susan Morton.
The extension of 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
MSCLLFFEAFIDIIF
WFCA Plc (LSE:WFCA)
Historical Stock Chart
From Nov 2024 to Dec 2024
WFCA Plc (LSE:WFCA)
Historical Stock Chart
From Dec 2023 to Dec 2024
Real-Time news about Wfca (London Stock Exchange): 0 recent articles
More WFCA Plc News Articles