RNS Number:8476N
Loftus Road PLC
13 July 2000 Loftus Road plc (the 'Company') Loan agreement
The Company has entered into a loan agreement with its Chairman and major
shareholder, Chris Wright, to provide a loan for up to #1.0 million (the 'Loan
Agreement'). Interest is payable quarterly in arrears at a rate of 2.5 per
cent. above the base rate of NatWest bank. The loan is repayable on demand on
or after 31 May 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. |