Craven House Capital PLC Disposal of investment (3952N)

TIDMCRV

RNS Number : 3952N

Craven House Capital PLC

15 May 2015

Craven House Capital Plc ("Craven House" or the "Company")

Disposal of investment

The Company announces that it has executed an agreement to assign the mortgage it holds over the Green Isle Conference and Leisure Hotel ("Green Isle") for a cash consideration equal to the mortgage amount of EUR1,500,000 to Viridian Hotel Group Ltd ("Viridian"). The 4% yielding mortgage provided Craven House with a monthly income of EUR5,000; the loan was due to be repaid in November 2016. The Company's investment in Green Isle was originally acquired for EUR700,000.

The consideration is to be paid in two instalments of EUR1,000,000 on 15 May 2015 and EUR500,000 on or before 14 November 2016. The agreement contains an option in favour of Viridian to put the mortgage investment at par back on the Company in the first 90 days following completion.

Ends

For further information please contact:

 
 Craven House Capital Plc                 Tel: 07590 831 323 
  Alexandra Eavis 
  Non-Executive Director 
  and Company Secretary 
  www.Cravenhousecapital.com 
---------------------------------------  -------------------- 
  SPARK Advisory Partners                  Tel: 0203 368 3550 
   Limited 
   Nominated Adviser 
   Matt Davis/Mark Brady 
   http://www.Sparkadvisorypartners.com 
---------------------------------------  --------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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