RNS Number:6912W
Loftus Road PLC
4 January 2001 Loftus Road plc (the 'Company')
Loan agreement
The Company has entered into a further loan agreement with its Chairman and
major shareholder, Chris Wright, to provide a loan for #1.0 million (the 'Loan
Agreement'). Interest is payable quarterly in arrears at a rate of 2.0 per
cent. above the base rate of Barclays bank. The loan is repayable on demand on
or after 20 December 2001, or earlier in certain circumstances. The loan is
secured against the Company's assets. The Loan Agreement constitutes a related
party transaction, as defined by the AIM Rules. The Directors of the Company
believe, having consulted with Peel Hunt plc, that the terms of the Loan
Agreement are fair and reasonable as far as the Company's shareholders are
concerned. 4 January 2001 |