Additional Short Term Loans
June 26 2009 - 2:00AM
UK Regulatory
TIDMBMC
RNS Number : 5347U
Birmingham City PLC
26 June 2009
Birmingham City plc (the "Company")
Additional Short Term Loans
Further to the announcement made on 9 June 2009, Birmingham City Football Club
(the "Club") has agreed additional short term, unsecured, working capital loans
from three of its directors, David Sullivan, David Gold and Ralph Gold, to fund
its stadium refurbishment and player purchase programmes.
Under the terms of these loans, Roldvale Ltd Employee Benefit Trust (in which
David Sullivan is interested) will lend GBP1.5m, and David Gold and Ralph Gold
will each lend GBP750,000 to the Club, repayable on or before 1st September
2009. The loans will bear an interest rate of 0.5 per cent. per month. There
will be no facility fee payable.
As required by Rule 13 of the AIM Rules for Companies, the Company's directors
(other than the directors interested in the loans) consider, having consulted
with the Company's nominated adviser Shore Capital and Corporate Limited, that
the terms of the loans are fair and reasonable in so far as its shareholders are
concerned.
Enquiries:
+------------------------------------+------------------------------------+
| Birmingham City plc | 0844 557 1875 |
| Roger Bannister | |
| | |
+------------------------------------+------------------------------------+
| Shore Capital and Corporate | 020 7408 4090 |
| Limited | |
| Graham Shore | |
| Stephane Auton | |
+------------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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