TIDMPNE
RNS Number : 3681N
Preston North End PLC
16 February 2009
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Preston North End plc
("Preston North End" or the "Company")
Loan Agreements
Further to the announcements made on 3 December 2008, 16 December 2008 and 15
January 2009, the Company today confirms that it has drawn down a further
GBP600,000 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 has advanced the whole amount of
GBP600,000.
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
GBP9.4million, including accrued interest.
For further information please contact:
+--------------------------------------------------+----------------------+
| Kevin Abbott, Preston North End plc | Tel: 0870 442 1964 |
| David Youngman/Katy Mitchell, 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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