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ATV Antonov

59.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Antonov LSE:ATV London Ordinary Share GB00B3SHND79 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 59.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Additional Loan Facility & Update on China

19/10/2009 7:00am

UK Regulatory



 

TIDMATV 
 
RNS Number : 9567A 
Antonov PLC 
19 October 2009 
 

ATV.L 
 
 
Antonov plc 
(the "Company") 
 
 
Amendment of Loan Facility Agreement 
Issue of Equity 
Update on China 
 
 
The Company has today agreed to pay EUR600,000 as an additional facility fee in 
respect of the Loan Facility Agreement, dated 18 February 2009. 
Under the Loan Facility Agreement, Quivest B.V ("Quivest") agreed to provide 
committed funds of up to EUR15 million to help finance the proposed joint venture 
in China. It had been expected that funds would have been drawn down by the 
middle of 2009. However, negotiations with the Company's partner in China, 
Chongqing Landai Industry Co., Ltd ("Landai"), have taken longer than expected 
and so as at today no funds have been drawn down against the Loan Facility 
Agreement. The additional facility fee has been paid in recognition of the cost 
to Quivest of this delay. 
The additional facility will be paid in two tranches, with the first EUR300,000 
being settled through the issue today of 600,000 ordinary shares of 10 pence 
each ("Ordinary Shares") to Quivest. The second EUR300,000 will also be settled by 
issue of Ordinary Shares within 3 months from the date of signing the amendment 
to the Loan Facility Agreement. 
Application for the admission to AIM of the Ordinary Shares allotted above will 
be made and dealings are expected to commence at 8.00am on 22 October 2009. The 
new Ordinary Shares will, on admission to AIM, rank pari passu with, and will be 
identical in all respects to, the existing Ordinary Shares of the Company. 
Application will also be made for admission of the Ordinary Shares to trading on 
Euronext Amsterdam by the end of November 2009, following the publication of a 
prospectus. 
Discussions with Landai are continue to progress and whilst negotiations have 
taken longer than expected, the Board is pleased with the progress to date and 
remain confident that the joint venture will be established before the end of 
the year. 
Following this issue of shares, the issued share capital of the Company now 
consists of 15,918,529 Ordinary Shares. 
The payment of the additional fee is deemed to be a related party transaction 
under Rule 13 of the AIM Rules.  The independent directors of the Company have 
considered the terms of this transaction and, having consulted with Astaire 
Securities Plc, being the Company's Nominated Adviser, are satisfied that those 
terms are fair and reasonable insofar as the Company's shareholders are 
concerned. 
 
 
Enquiries: 
+--------------------------------------------------+--------------------+ 
| Please contact:-                                 |                    | 
+--------------------------------------------------+--------------------+ 
| Dr Jos E. Haag, Executive Chairman, Antonov plc  | +44 1926 455 800   | 
|                                                  | +31 651 561 767    | 
+--------------------------------------------------+--------------------+ 
| Lindsay Mair/Antony Legge,  Astaire Securities   | +44 20 7448 4400   | 
| Plc                                              |                    | 
+--------------------------------------------------+--------------------+ 
| Shane Dolan, Biddicks                            | +44 20 7448 1000   | 
+--------------------------------------------------+--------------------+ 
| www.antonovplc.com                               |                    | 
+--------------------------------------------------+--------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCFFEFMMSUSEDS 
 

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