Asia Ceramics Holdings PLC Loan Extension (3429Y)

TIDMACHP

RNS Number : 3429Y

Asia Ceramics Holdings PLC

20 February 2013

Asia Ceramics Holdings PLC

("Asia Ceramics" or "the Company")

Loan Extension

Asia Ceramics announces that it has agreed an extension of a loan of GBP500,000 provided to the Company by its Chief Executive , Dr Tom Pu.

The original loan agreement was entered into on 18 August 2010. Under the terms of the agreement , the loan for GBP500,000, which is unsecured and interest free, was repayable in five equal instalments payable quarterly, the first such payment to be made 18 months following the date of the loan agreement. No repayments of the loan have been made to date. The amendment has extended the date of repayment to five equal instalments commencing on 31 January 2015 subject to the Company having sufficient funds to meet the repayments

The amendment is treated as a related party transaction under the AIM Rules. The independent directors, being the directors of the Company other than Dr Pu, consider, having consulted with WH Ireland, that the terms of the transactions are fair and reasonable insofar as its shareholders are concerned.

Enquiries:

 
     Frank Lewis, Chairman       Asia Ceramic Holdings       Tel: [phone] 
                                  plc 
     Shawn Wu, CFO               Asia Ceramic Holdings       Tel: [phone] 
                                  plc 
     James Joyce                 WH Ireland Limited          Tel: [phone] 
     James Bavister              WH Ireland Limited 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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