OPE Optare

TIDMOPE

RNS Number : 5492U

Optare PLC

22 December 2011

Optare plc

("Optare" or the "Company")

Facility Agreement

Optare is pleased to announce that, it has entered into a loan facility agreement (the "Facility Agreement") with one of its major shareholders, to provide Optare with up to GBP1.5 million to support its ongoing operational and working capital requirements whilst it is in the process of re-banking.

The Facility Agreement is for a period to the 15 March 2012 and is repayable on demand by the lender giving at least 30 calendar day's notice. The Facility Agreement carries interest at 8 percentage points above base rate per annum.

The Facility Agreement is classified as a related party transaction in accordance with the AIM Rules by virtue of it being one of Optare's substantial shareholders. Accordingly, the independent directors, having consulted with the Company's nominated adviser, consider the terms of the Facility Agreement to be fair and reasonable insofar as the Company's shareholders are concerned.

For further information please contact:

 
 Optare plc                      Tel: 0845 838 9901 
  Jim Sumner - Chief Executive 
 
 
 Cenkos Securities plc        Tel: +44 (0) 20 7397 
  Stephen Keys/Camilla Hume    8900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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