RNS Number : 0538X
  Newport Networks Group PLC
  19 June 2008
   

    Loan Facility

    The Board of Newport Networks Group PLC ("Newport") is pleased to announce that the group has obtained a �2m loan facility from Wesley
Clover Corporation, the private investment company of Sir Terence Matthews, the Chairman of Newport.

    The loan is repayable on demand and is secured by a debenture with interest charged at 2% over Bank of England base rate.

    In the event that Newport completes a new round of equity financing then the loan and accrued interest are repayable from the proceeds
of the equity financing. Alternatively Wesley Clover Corporation has the option to apply the loan and accrued interest to subscribe new
shares in a new round of equity financing at the Placing Price.

    For the purpose of the AIM Rules, the loan from Wesley Clover Corporation, as the private investment company of Sir Terence Matthews, is
considered a related party transaction. The Directors (with the exception of Sir Terence Matthews) consider, having consulted with Evolution
Securities, that the terms of the transaction are fair and reasonable insofar as Newport's shareholders are concerned.



    Enquiries: 

    Newport Networks Group PLC Tel: 01291 435 700 
    John Everard, Chief Executive 
    John Ackroyd, Finance Director 

    Evolution Securities Tel: 020 7071 4300 
    Robert Collins 
    Tim Redfern 
    Neil Elliot

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