Loan Facility


 

TIDMCAMH 
 
RNS Number : 9025L 
Consolidated Asset Mgmt (Hldgs) PLC 
20 January 2009 
 

Consolidated Asset Management (Holdings) plc 
("CAM" or the "Company") 
 
 
Loan Facility 
 
 
 
 
CAM announces that Mayfair Limited ("Mayfair"), which owns 29.9% of the issued 
share capital of CAM, has today entered into a loan agreement to provide the 
Company with a working capital facility of up to GBP250,000 (the "Loan 
Facility"). 
 
 
CAM intends to drawdown the full amount of the Loan Facility, and the funds will 
be used to satisfy the Company's short-term working capital requirements pending 
the Company agreeing and putting in place arrangements for longer-term funding. 
The Company is in discussions with its major shareholders, and persons connected 
with such shareholders, with regard to the provision of further funding to the 
Company. It is envisaged that, subject to terms with such parties being agreed, 
any further funding will be provided by way of subscription for new ordinary 
shares in CAM or the provision of loans convertible into new ordinary shares in 
CAM. 
 
 
The amount drawndown under the Loan Facility is repayable on the earlier of (i) 
one year from the date of the loan agreement, (ii) the agreement and completion 
of arrangements for the provision by Mayfair and/or persons connected with 
Mayfair of equity funding to the Company and (iii) CAM arranging and putting in 
place third party funding of an amount of GBP850,000 or more.Interest at the 
rate of 3.5 per cent. per annum will be charged on the amount drawndown under 
the Loan Facility. 
 
 
The provision of the Loan Facility is deemed to be a related party transaction 
under the AIM Rules for Companies. The independent directors of the Company 
(that is, excluding Andrew Wilson) consider, having consulted with Strand 
Partners Limited, the Company's nominated adviser, that the terms of the Loan 
Facility are fair and reasonable insofar as the Company's shareholders are 
concerned. 
 
 
 
 
For further information please contact: 
 
 
+----------------------------------------------------+-------------------------+ 
| Consolidated Asset Management (Holdings) plc       | 0845 838 4756           | 
| Simon Banks-Cooper, Chief Executive Officer        |                         | 
|                                                    |                         | 
+----------------------------------------------------+-------------------------+ 
| Strand Partners Limited                            | 020 7409 3494           | 
| Simon Raggett                                      |                         | 
+----------------------------------------------------+-------------------------+ 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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