Repayment of bank borrowings
September 30 2003 - 11:57AM
UK Regulatory
Exeter Selective Assets Investment Trust PLC
REPAYMENT OF BANK BORROWINGS
The Company has repaid �858,000 of its loan with Bank of Scotland and �576,956
of its loan with Lloyds TSB. Breakage costs incurred in these repayments were �
38,441 to Bank of Scotland and �26,156 to Lloyds TSB. In addition the Company
has paid a breakage cost of �65,044 in connection with the conversion of the
Lloyds TSB zero coupon loan into an interest bearing facility.
Following these repayments the Company has total assets (valued at mid-market
prices) as at 29 September 2003 of �25.0 million, total borrowings of �18.9
million and net assets of �6.1 million (21.8p per ordinary share). The
estimated breakage costs on the outstanding loans total �0.9 million.
The Company's assets and liabilities are as follows:
�m
Quoted Investments 23.457
Net Current Assets 1.531
Total Assets 24.988
Total Borrowings 18.916*
*�10.775 million with Bank of Scotland and �8.141 million with Lloyds TSB.
30 September 2003
END