Operational and funding update
2010年2月12日 - 11:36PM
RNSを含む英国規制内ニュース (英語)
TIDMCLEA
RNS Number : 0943H
Cleardebt Group PLC
12 February 2010
ClearDebt Group Plc ("ClearDebt" or "the Company")
12 February 2010
Operational and funding update
On 3 December 2009 ClearDebt announced that it had acquired from the
administrator (Jonathan Elman Avery-Gee) part of the businesses and assets of
four subsidiaries of Relax Group plc (in administration) ("Relax"), namely
approximately 6,500 Individual Voluntary Arrangements (IVAs), Protected Trust
Deeds and Debt Management Plans (the "Relax Assets").
The total consideration of GBP2.7m for the Relax Assets was to be paid in cash
from the Company's own resources and existing facilities. To date, the Company
has already paid GBP550,000 and will shortly be making a further payment of
GBP1,000,000. The Board considered various options for funding this stage
payment and decided that the existing resources of the Company would be better
used in growing the business and for working capital purposes. The Board
therefore decided that this further payment of GBP1,000,000 should be financed
as to GBP500,000 from the Company's own resources and GBP500,000 from a bridging
loan, detailed below.
The Company has entered into a bridging loan agreement dated 12 February 2010
with Synergy Capital Limited ("Synergy") to provide a loan in the sum of
GBP500,000 on commercial terms.
David Mond, Chief Executive, said "We are delighted to have Synergy on board in
this exciting time for the Company. Having an entrepreneurial investor
alongside us who thoroughly understands the market in which we operate will be a
great asset to the Company."
The Company intends to repay this loan within 2 months by way of an issue of
Convertible Loan Notes and/or the Placing of further equity raising up to
GBP3,000,000. A further announcement will be made in this respect in due
course.
The balance of GBP1,150,000 which is due to the administrator of Relax in
respect of the Relax Assets will be met from the proceeds of this new issue.
Contacts:
For further information, please contact:
David Mond, CEO ClearDebt Group plc Tel: 0161 969
2023
David Shalom, FD ClearDebt Group plc
John Cowie Seymour Pierce Limited Tel: 020 7107
8000
Nicola Marrin Seymour Pierce Limited
This information is provided by RNS
The company news service from the London Stock Exchange
END
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