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Share Name Share Symbol Market Type Share ISIN Share Description
Boston International Holdings Plc LSE:BIH London Ordinary Share GB00BD70S874 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 3.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 0.0 -0.3 -1.0 - 1

Boston International Holdings PLC New Loan Facility

12/06/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 7372P

Boston International Holdings PLC

12 June 2020

For immediate release

Boston International Holdings Plc

("BIH" or the "Company")

12 June 2020

New Loan Facility

The Company is pleased to announce that it has entered yesterday into a new unsecured loan facility agreement (the "Loan Facility") with Boston Merchant (HK) Limited ("BMHK").

Under the Loan Facility, BMHK will provide GBP200,000 at an interest rate of 2.5 per cent per annum, repayable in full on the earlier of (i) 31 December 2021 or (ii) three business days following the date of re-admission of the entire issued and to be issued share capital of the Company to the Official List of the FCA and to trading on the London Stock Exchange's Main Market for listed securities, pursuant to completion by the Company of a Reverse Takeover (as defined in the Listing Rules), accompanied by a placing of new ordinary shares of GBP0.01 each raising a minimum of GBP1 million.

The proceeds of the Loan Facility will be used for general capital expenditure and working capital requirements.

BMHK is a substantial shareholder of the Company as defined by the Listing Rules. The provision of the Loan Facility is a related party transaction pursuant to DTR 7.3. BMHK is 98.04% owned by Borden James, a director of BIH.

Richard Hartheimer and Norman Connell, the two other directors of BIH (each of whom are independent of BMHK), consider that the transaction is fair and reasonable insofar as its shareholders are concerned and accordingly have approved it. Due to Mr James' shareholding in BMHK, he did not participate in the approval or vote.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

ENDS

For more information please contact:

 
Boston International Holdings Plc 
Borden James                        +44 (0) 7379 668 907 
 
Beaumont Cornish Limited 
Roland Cornish                      +44 (0) 207 628 3396 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

AGRKZGMVNMDGGZM

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June 12, 2020 02:00 ET (06:00 GMT)

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