Loan Agreement
(Thomson Reuters ONE) -
MILESTONE GROUP PLC
("Milestone" or the "Company")
Loan Agreement
The Board of AIM quoted Milestone (AIM: MSG), the provider of digital media and
technology solutions, announces that it has today entered into a convertible
loan agreement in respect of a convertible loan in the sum of £150,000 (the
"Convertible Loan").
The terms of the Convertible Loan are as follows:
Term 12 months
Fees / costs payable £3,500 plus VAT in respect of legal fees
Net proceeds £145,887.50
Coupon 8 per cent. per annum payable on a annual
basis
Final conversion / redemption date 31st March 2011
Conversion price Equivalent to 15 per cent. below the
average mid-market price for the 20
business days prior to the date of
conversion
The Convertible Loan will be drawn down immediately. This funding provides
additional working capital and enables the Board to further develop the Company
in the short term.
Deborah White, Chief Executive of Milestone, commented:
"We are grateful for the continued support of our stakeholders. This short term
loan will allow us to continue to develop and deliver our expanding bespoke
solutions for web and mobile platforms."
FOR FURTHER INFORMATION:
Milestone Group PLC
Deborah White, Chief Executive Tel: 020 7929 7826
Strand Hanson Limited
Richard Tulloch / David Altberg Tel: 020 7409 3494
Hybridan LLP
Claire Louise Noyce / Stephen Austin Tel: 020 7947 4004
[HUG#1399948]
Unternehmensinformation / Kurzprofil:
Datum: 31.03.2010 - 17:31 Uhr
Sprache: Deutsch
News-ID 18473
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
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"Loan Agreement"
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Milestone Group PLC (Nachricht senden)
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