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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
M&L Property | LSE:PHU | London | Ordinary Share | GB00B0YMRZ51 | 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% | 23.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Pactolus Hungarian Property plc (the "Company" or "Group") Loan Facility The Group has today repaid its outstanding loan balance with Investec Bank plc (Irish Branch) ("Investec"), which was due to be repaid by 19 December 2014. The Group made a numerous attempts to roll the facility for a further period, but Investec declined to respond positively to the Group's requests. The funds paid to Investec to discharge their facility were loaned to the Group by M & M Investment Company plc, a company associated with Midas Investment Management Limited and Mark Sheppard, the asset manager to the Company who have, along with their associates, an interest over 51.4% of the Company's share capital. The loan provided by M & M Investment Company plc will be on similar terms as the previous loan provided by Investec, with an interest charge of 4.8% above 3 month Euribor. The loan from Investec required a fixed charge over all the properties in the Group's portfolio, whereas the new loan is secured on a floating basis only. The total amount now outstanding to M & M Investment Company plc and their associates is £1.652m. The Transaction is a related party transaction pursuant to AIM Rule 13, the Directors of the Company, having consulted with the Company's nominated adviser, believe that the terms of the Transaction to be fair and reasonable insofar as its shareholder are concerned. In the last few months, the Group has received a higher level of interest from investors interested in potentially purchasing a handful of its properties. A few of these aforementioned investors have signed non-binding letters of intent. Should a material amount of such potential transactions complete, a further announcement will be made. For further information, please contact: Asset Manager: Midas Investment Management Limited Tel: +44 (0) 161 228 1709 Nominated Adviser: Liam Murray/Jo Turner Cairn Financial Advisers LLP Tel: +44 (0) 20 7148 7900
Copyright r 17 PR Newswire
1 Year Pactolus Hungarian Property Chart |
1 Month Pactolus Hungarian Property Chart |
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