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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Clarkson Hill | LSE:CLKH | London | Ordinary Share | GB0032390055 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCLKH 20 July 2010 The Clarkson Hill Group ("Clarkson Hill" or the "Company") Update on Regulatory Capital position In the report and accounts which were posted recently to shareholders, the Company referred to the need to raise further capital to meet its regulatory capital requirements. The Company is pleased to announce today that Ron Pritchard and Mike Robinson, two of the directors of the Company, have provided subordinated loans to the Company of GBP588k, which the Directors believe is sufficient for the Company to meet its FSA regulatory capital requirements. The terms of the loans are in the FSA standard format and provide a right to be repaid after 2 years and for interest of 5 per cent per annum and are approved by the FSA. The Company also confirms that trading to date remains in line with expectations and that the Company has sufficient working capital for its current purposes. The entering into of the subordinated loan agreements is deemed to be a related party transaction under Rule 13 of the AIM Rules for Companies. William Moncrieff, as the independent director, having consulted with Astaire Securities, as the Company's nominated adviser, believes that the terms of the subordinated loans are fair and reasonable insofar as the Company's shareholders are concerned. Contact: Ron Pritchard The Clarkson Hill Group plc Tel: 01945 585721 Antony Legge / Stuart Lane Astaire Securities plc Tel: 020 7492 4750 END
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