Related party transaction

RNS Number : 4551M

EPE Special Opportunities PLC

25 May 2010

 

25 May 2010

EPE Special Opportunities plc ('ESO' or the 'Company')

Loan from EPIC plc to Whittard of Chelsea ("Whittard")

ESO announces that EPIC plc has provided a working capital loan of £2 million to Whittard, a portfolio investment of the Company. EPIC plc and ESO share a common investment manager, EPIC Private Equity LLP, and the loan will therefore be treated as a related party transaction under AIM Rule 13. The loan is being provided in order to provide additional working capital to Whittard in the period before the seasonal sales peak in November and December.

The loan is to be fully repaid by 20 December 2010. The interest rate is 12% per annum, paid monthly in arrears.

The directors of ESO, having consulted with Numis Securities Limited as its nominated adviser, consider that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.

For more information, please contact:

EPIC Private Equity LLP

Mark Colley                               [phone]

Numis Securities Limited, as Nominated Adviser

Stuart Skinner                           [phone]

Numis Securities Limited, as Corporate Broker

Charlie Farquhar                        [phone]

 

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