Sutton Harbour Group PLC Loan Facilities (4492J)

TIDMSUH

RNS Number : 4492J

Sutton Harbour Group PLC

27 April 2022

27 April 2022

Sutton Harbour Group PLC

("Sutton Harbour" or the "Company")

Loan Facilities

Sutton Harbour Group plc (AIM: SUH), the AIM-listed marine and waterfront regeneration specialist has agreed terms on two unsecured loan facilities of GBP1.15 million each with FB Investors LLP and Rotolok (Holdings) Limited (together the "Loans" or the "Facilities"). The Loans carry a fixed 8% gross annual interest rate and will be available for up to two years from drawdown. There are no other fees payable to FB Investors LLP and Rotolok (Holdings) Limited under the Facilities. The Company intends to use the Facilities to replace an existing loan.

The Loans constitute a related party transaction for the purposes of the AIM Rules, as FB Investors LLP is controlled by the Beinhaker family and Rotolok (Holdings) Limited is connected to non-executive director Sean Swales. The directors, other than Philip Beinhaker, Corey Beinhaker and Sean Swales, having consulted with the Company's nominated adviser, Arden Partners, consider that the terms of the Loans are fair and reasonable insofar as shareholders are concerned.

Enquiries

 
 Sutton Harbour Group    [phone]   Philip Beinhaker, Executive Chairman 
  plc                                           Corey Beinhaker, Chief Operating Officer 
                                                Natasha Gadsdon, Finance Director 
 Arden Partners (NOMAD   [phone]        Paul Shackleton 
  and Broker)             5900                  Elliot Mustoe 
 

Notes to Editors

Sutton Harbour Group plc (SUH) is an AIM listed company specialising in marine operations, waterfront regeneration and destination creation in Plymouth and South West England.

The Company operates Sutton Harbour Marina, King Point Marina and Plymouth Fisheries. Operational activities include mixed-use lettings, car parking and support services to harbour users, property management and regeneration and asset enhancement.

Sutton Harbour Group plc is committed to being the leading marine and waterfront regeneration specialist in Southern England, and to positioning Sutton Harbour in Plymouth as a destination of national interest.

This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

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April 27, 2022 02:01 ET (06:01 GMT)