Long-term Loan

RNS Number : 6974O

Ten Alps PLC

23 September 2013

 



23 September 2013

Ten Alps Plc

Long-term Loan

Ten Alps Plc ("Ten Alps" or the "Company"), producer of high quality TV and radio together with integrated publishing and communications content, announces that it has received an unsecured capital injection  amounting to £1,250,000 from Herald Investment Trust, an existing substantial shareholder of the Company  via a loan note (the "Loan").

The proceeds of the capital injection will be used to for the Company's business development and general working capital requirements. Interest under the terms of the Agreement will be rolled and charged at a rate of 6 per cent. over monthly LIBOR with a repayment date of 31 March 2016.

Provision of the Loan is a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The Directors consider, having consulted with its nominated adviser, that the terms of the Loan are fair and reasonable insofar as the Company's shareholders are concerned.

For further information, please contact:

Ten Alps plc
Peter Bertram, Chairman	Tel: [phone]
c/o Moira McManus
www.tenalps.com
Grant Thornton, Nominated Adviser	Tel: [phone]
Colin Aaronson / Jen Clarke/ Jamie Barklem
www.grant-thornton.co.uk

 

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