Funding Update (4376E)
May 30 2012 - 9:31AM
UK Regulatory
TIDMNTA
RNS Number : 4376E
Northacre PLC
30 May 2012
30 May 2012
Northacre PLC ("Northacre")
Funding Update
Northacre today announces that its wholly owned subsidiary
Northacre Capital (8) Limited has repaid and arranged to de-list
the loan notes due 2013 (the "Loan Notes") which were issued and
listed on the Channel Island Stock Exchange in October 2011.
As announced on 2 May 2012 Northacre secured a new loan facility
provided by Auster Real Estate Opportunities Sarl to the Northacre
Group (the "Group"). Following the second distribution of the
Lancasters dividend of GBP3m as announced on 4 May 2012 the amount
required under the new loan facility was set by the Group at the
level of GBP13m. This amount was drawn today and allowed Northacre
Capital (8) Limited to repay the Loan Notes. The total repayment
amount was GBP11,276,653 including accrued interest.
The new facility carries a coupon of 1.5% per month, providing a
substantial saving on the previous financing. It provides
significant funds to support the Group's working capital needs.
Enquiries:
Northacre PLC
Klas Nilsson (Chairman)
Ken MacRae (Chief Executive Officer)
Tel: (020) 7349 8000
Hudson Sandler Ltd
Michael Sandler
Tel: (020) 7796 4133
Peel Hunt LLP (Nominated Adviser and Broker)
Capel Irwin
Harry Florry
Tel: (020) 7418 8900
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMGFKFGGGZZM
Northacre (LSE:NTA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Northacre (LSE:NTA)
Historical Stock Chart
From Sep 2023 to Sep 2024