Related Party Transaction
April 23 2007 - 6:18AM
UK Regulatory
RNS Number:3200V
Charterhouse Communications PLC
23 April 2007
CHARTERHOUSE COMMUNICATIONS PLC
23 April 2007
CHARTERHOUSE COMMUNICATIONS PLC ("Charterhouse" or the "Company")
RELATED PARTY TRANSACTION
The Company announces that on 19 April 2007 it agreed a #300,000 loan (the "Loan
") from Roy Leighton, a Non-Executive Director of the Company. Interest payable
on the Loan will remain at 2.25% over the Bank of England base rate which is
currently 5.25%.
The proceeds from the Loan will be used to facilitate the process of refinancing
through which the Company is currently progressing. The Loan and interest
accrued thereon will be repaid to Mr. Leighton on 6 July 2007.
Because the Loan constitutes a related party transaction for the purposes of the
AIM Rules, the Directors of Charterhouse (with the exception of Roy Leighton,
due to his interest in the Loan) considered, having consulted with the Company's
Nominated Adviser, Teather & Greenwood Limited, that the terms of the Loan were
fair and reasonable insofar as the Company's shareholders were concerned.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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