Silverwood Brands PLC Loan Extension and Waiver (1148Q)

TIDMSLWD

RNS Number : 1148Q

Silverwood Brands PLC

13 October 2023

13 October 2023

Silverwood Brands Plc

("Silverwood" or the "Company")

Loan Extension and Waiver

Silverwood Brands plc (AQSE: SLWD), a holding company established to invest primarily in branded consumer businesses, announces that the Company has entered into an amendment and waiver agreement ("Agreement") with Castelnau Group Limited ("Castelnau"), in relation to the unsecured loan facility of approximately GBP4.4 million ("Loan") entered into by the Company and Castelnau on 12 October 2022.

Specifically, the Company and Castelnau have agreed to extend the repayment date for the Loan to 12 April 2024 and Castelnau has agreed to waive its right to treat the continued suspension of trading in the Company's shares, which commenced on 2 October 2023, as an Event of Default under the terms of the Loan, provided that trading in the Company's shares has resumed before 12 April 2024.

As Andrew Gerrie is a non-executive director of Phoenix Asset Management Partners, the manager of Castelnau, the Agreement is deemed to be a related party transaction pursuant to Rule 4.6 of the Aquis Growth Market Access Rulebook. The Company's directors (excluding Andrew Gerrie, who is indirectly interested in this transaction) having exercised reasonable care, skill and diligence, consider that the Agreement is fair and reasonable insofar as the shareholders of the Company are concerned.

 
       Silverwood Brands Plc          [e-mail] 
            Andrew Gerrie 
            Paul Hodgins 
 Peterhouse Capital Limited (Aquis 
  Corporate Adviser) 
  Mark Anwyl 
  Narisha Ragoonanthun 
  Brefo Gyasi                               [phone] 
 

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October 13, 2023 08:12 ET (12:12 GMT)