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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ide Group Holdings Plc | LSE:IDE | London | Ordinary Share | GB00BN4M3M55 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 72.50 | 70.00 | 75.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIDE
RNS Number : 8937U
IDE Group Holdings PLC
08 December 2021
IDE Group Holdings Plc
("IDE", the "Group" or the "Company")
Related Party Short-Term Loan
IDE Group Holdings plc, the mid-market network, cloud and IT managed services provider, announces it has entered into a short-term loan agreement with MXC Capital.
The loan is for GBP1,000,000, carries an arrangement fee of 3.75% and the interest rate varies between 1.5%-3% according to the repayment date, with the rate being lower for quicker repayment. The Company expects to repay the loan by the 31 March 2021. Should it not be repaid by this date, the terms will revert to the same terms as the outstanding loan notes, details of which have previously been announced on the 10(th) January 2019. The loan will be unsecured and subordinated to the outstanding loan notes.
MXC Capital is deemed to be a related party of the Company pursuant to the AIM Rules for Companies (the "AIM Rules") as they are a substantial shareholder and because Ian Smith, CEO of MXC is Executive Director of IDE.
Andy Parker, being the sole independent director for these purposes considers, having consulted with the Company's nominated adviser, finnCap, that the terms of the related party transaction are fair and reasonable insofar as the shareholders of the Company are concerned.
Contacts:
IDE Group Holdings Plc Tel: +44 (0)344 Andy Parker, Non-Executive Chairman 874 1000 finnCap Limited Tel: +44 (0)20 Nominated Adviser and Broker 7220 0500 Corporate finance: Jonny Franklin-Adams/ Abby Kelly ECM: Tim Redfern/ Richard Chambers
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END
MSCGZMGZRNVGMZM
(END) Dow Jones Newswires
December 08, 2021 02:00 ET (07:00 GMT)
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