TIDMPNE
RNS Number : 7073L
Preston North End PLC
15 January 2009
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Preston North End plc
("Preston North End" or the "Company")
Loan Agreement
Further to the announcements made on 3 December 2008 and 16 December 2008, the
Company confirms today that it has drawn down a further GBP500,000 pursuant to
the terms of the loan agreements made between the Company and (i) the Friends of
Preston North End Limited and (ii) Guild Ventures Limited (the "Lenders") (the
"Loans").
In this instance, Guild Ventures Limited have advanced the whole amount of
GBP500,000.
As set out in the announcement of 14 November 2008, the Loans accrue interest
from the date of drawdown to the date of repayment at a rate of LIBOR plus 3%
and have a repayment date of January 2010.
The Loans will be used by the Company to fund ongoing working capital
requirements.
The total amount that has been advanced by the Friends of Preston North End
Limited and Guild Ventures Limited to the Company to date now totals
GBP8.8million.
For further information please contact:
Kevin Abbott, Preston North End plc Tel: 0870 442 1964
David Youngman, WH Ireland Limited Tel: 0161 832 2174
This information is provided by RNS
The company news service from the London Stock Exchange
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