One Delta PLC Increased interest in One Delta Limited (4068C)

TIDMONE

RNS Number : 4068C

One Delta PLC

17 March 2014

One Delta plc

("One Delta" or the "Company")

Increased interest in One Delta Limited

One Delta announces that it has today entered into an agreement with One Delta Limited ("ODL"), the Company's majority owned trading subsidiary, to capitalise a loan amounting to GBP100,000 which is currently owed to it. In consideration for the loan, the Company will receive 100,000 ordinary shares in ODL which will result in the Company owning a total of 106,296 ordinary shares in ODL, equivalent to 94.7 per cent. of the issued share capital.

The capitalisation of this loan will result in ODL being debt free.

Related party transaction

Under the AIM Rules, the loan capitalisation is classified as a related party transaction for the purposes of Rule 13 of the AIM Rules.

The Independent Directors, being Roger King and Roger Maddock, having consulted with the Company's Nominated Adviser, Sanlam Securities UK, consider the terms of the transaction to be fair and reasonable insofar as the Company's shareholders are concerned. In advising the Independent Directors, Sanlam Securities UK has taken into account the commercial judgment of the Independent Directors.

Enquiries:

 
 One Delta plc 
 Roger Maddock, Chairman                    Tel: +44 (0) 
  Roger King, Director                      7841 672 621 
                                            Tel: +44 (0) 
                                            1534 753 400 
 
 Sanlam Securities UK Limited (Nominated 
  Adviser and Broker) 
 Simon Clements/Virginia Bull               Tel: +44 (0) 
                                            20 7628 2200 
 
 Walbrook PR 
 Paul McManus                               Tel: +44 (0) 
                                            20 7933 8787

This information is provided by RNS

The company news service from the London Stock Exchange

END

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