Trading Update and Related Party Transaction (7460I)
2011年6月20日 - 9:33PM
RNSを含む英国規制内ニュース (英語)
TIDMCLEA
RNS Number : 7460I
Cleardebt Group PLC
20 June 2011
ClearDebt Group Plc ("ClearDebt" or "the Company")
ClearDebt is pleased to announce a trading update and that it
has today acquired certain assets of Invocas Group plc.
-- ClearDebt anticipates that its year end figures will be ahead
of market expectations
-- Number of IVAs approved in the current financial year is
expected to exceed the 2009/10 figures by 100%
-- ClearDebt has acquired a book of approximately 1,000 IVAs
from Invocas Group plc for an undisclosed sum
The Board of ClearDebt sees the 2010/11 financial year as one of
good solid progress. The acquisition of the book of IVAs from
Invocas gives the Company the opportunity to expand its operations
in the growing IVA sector. The acquisition is being funded, in
part, by a Loan (the "Loan") from the Company's CEO, David Mond, of
GBP625,000 on the same terms under which Mr Mond has previously
made loans to the Company. The Loan bears interest at a rate of
10.5% per annum and is repayable on demand. As the Loan is being
made to the Company by a director, it is classified as a related
party transaction under the AIM Rules for Companies. As such, the
independent directors are required to give an opinion, after
consultation with the Company's Nominated Adviser, that the terms
of the Loan are fair and reasonable so far as all shareholders are
concerned. Having consulted with Seymour Pierce Limited, the
independent directors of the Company are satisfied that the terms
of the Loan being made to the Company by David Mond are fair and
reasonable so far as all shareholders are concerned.
ClearDebt welcomes last Tuesday's Office of Fair Trading's
publication on revised guidance for the debt management industry
and applauds the attempts to impose stricter rules within the debt
resolution industry which ClearDebt has been championing for years.
The consultation document sets out standards that the debt
management industry must adhere to and to which ClearDebt embraced
several years ago.
The Board intends to pursue a number of further opportunities to
acquire further back books or businesses within the industry.
Enquiries:
ClearDebt Group plc David Mond, Chief Executive Officer
Tel No: 0161 968 6805
Seymour Pierce Limited John Cowie/Guy Peters (Corporate
(Broker and Nominated Adviser) Finance)
David Banks/Katie Ratner (Corporate
Broking)
Tel No: 020 7107 8000
This information is provided by RNS
The company news service from the London Stock Exchange
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