Repayment of Loan
April 23 2008 - 7:45AM
UK Regulatory
RNS Number:9412S
Greatfleet PLC
23 April 2008
Greatfleet plc
("Greatfleet" or the "Company")
Repayment of General Capital indebtedness
On 12 September 2007, Greatfleet, the specialist recruitment firm, announced the
acquisition of Qualitas People Solutions (Ireland) Limited; Qualitas People
Solutions (UK) Limited; Alliance Recruitment (Ireland) Limited and Qualitas HR
Solutions (Ireland) Limited (together known as "Qualitas") for a total initial
consideration of �3.4 million (the "Acquisition"). General Capital Venture
Finance Limited ("General Capital") provided a loan facility of �650,000 (the
"Loan") to enable Greatfleet to fund the cash element of the Acquisition.
As at 21 April 2008 the outstanding balance of the Loan owed to General Capital
was �614,000 including exit fees and redemption interest. In addition, General
Capital were also owed �45,000 by Greatfleet in respect of additional services
provided by General Capital.
Greatfleet announces that they have now discharged all amounts owed to General
Capital (including any exit and arrangement fees) for an undisclosed amount
which is less than the total amount owed to General Capital. The payment was
made on 22 April 2008 from Greatfleet's existing cash resources.
Enquiries:
Greatfleet plc
Colin Gerstein, Chief Executive Officer Tel: 0845 881 0700
Noble & Company Limited
Nick Naylor Tel: 0207 763 2200
Nick Athanas
Parkgreen Communications Limited Tel: 020 7851 7480
Ben Knowles
Bex Sanders-Hewett
This information is provided by RNS
The company news service from the London Stock Exchange
END
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