MWH Millwall Hldgs

    RNS Number : 9122I
  Millwall Holdings PLC
  25 November 2008
   

    Millwall Holdings Plc

     ("Millwall" or the "Company")

    Loan Facility

      
    The Company has today completed a loan facility ("Loan") from Chestnut Hill Ventures LLC. The principal terms of the Loan are as
follows:

    1) the amount of the facility provided by CHV is up to �3.5 million, 50% of which may be syndicated to other lenders, subject to its
terms,
    2) the facility is available for a two year period,
    3) interest on the facility will be 17% per annum and interest may be converted in PIK notes, and
    4) there will be an early prepayment or cancellation fee of 20% of the amount prepaid or cancelled

    The facility will be unsecured save that it will be guaranteed by The Millwall Football & Athletic Club (1985) Plc ("Club").  CHV will
additionally have a right under the Facility to appoint a non-executive director to both of the Company and to the Club's board.

    The loan will be used for general working capital purposes

    Having consulted with Seymour Pierce, the Directors of the Company (other than John Berylson and Demos Kouvaris who are both directors
of CHV), consider, that the terms of the Loan are fair and reasonable insofar as shareholders are concerned.

    

Millwalls Executive Deputy Chairman Heather Rabbatts commented " Millwall is pleased to announce this loan arrangement. To have successfully
raised unsecured finance from CHV at this time of financial uncertainty in the markets further helps stabilise the Company's finances for
the foreseeable future.

    Contacts:

    Millwall:                     Heather Rabbatts
                                     020 7232 1222


    Seymour Pierce:        John Depasquale
                                     020 7107 8000







This information is provided by RNS
The company news service from the London Stock Exchange
 
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