Sutton Harbour Group PLC Loan Facilities (4492J)
April 27 2022 - 2:01AM
UK Regulatory
TIDMSUH
RNS Number : 4492J
Sutton Harbour Group PLC
27 April 2022
27 April 2022
Sutton Harbour Group PLC
("Sutton Harbour" or the "Company")
Loan Facilities
Sutton Harbour Group plc (AIM: SUH), the AIM-listed marine and
waterfront regeneration specialist has agreed terms on two
unsecured loan facilities of GBP1.15 million each with FB Investors
LLP and Rotolok (Holdings) Limited (together the "Loans" or the
"Facilities"). The Loans carry a fixed 8% gross annual interest
rate and will be available for up to two years from drawdown. There
are no other fees payable to FB Investors LLP and Rotolok
(Holdings) Limited under the Facilities. The Company intends to use
the Facilities to replace an existing loan.
The Loans constitute a related party transaction for the
purposes of the AIM Rules, as FB Investors LLP is controlled by the
Beinhaker family and Rotolok (Holdings) Limited is connected to
non-executive director Sean Swales. The directors, other than
Philip Beinhaker, Corey Beinhaker and Sean Swales, having consulted
with the Company's nominated adviser, Arden Partners, consider that
the terms of the Loans are fair and reasonable insofar as
shareholders are concerned.
Enquiries
Sutton Harbour Group +44 (0) 1752 204186 Philip Beinhaker, Executive Chairman
plc Corey Beinhaker, Chief Operating Officer
Natasha Gadsdon, Finance Director
Arden Partners (NOMAD +44 (0)20 7614 Paul Shackleton
and Broker) 5900 Elliot Mustoe
Notes to Editors
Sutton Harbour Group plc (SUH) is an AIM listed company
specialising in marine operations, waterfront regeneration and
destination creation in Plymouth and South West England.
The Company operates Sutton Harbour Marina, King Point Marina
and Plymouth Fisheries. Operational activities include mixed-use
lettings, car parking and support services to harbour users,
property management and regeneration and asset enhancement.
Sutton Harbour Group plc is committed to being the leading
marine and waterfront regeneration specialist in Southern England,
and to positioning Sutton Harbour in Plymouth as a destination of
national interest.
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END
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