WFCA PLC Financing Update (8182L)

TIDMWFCA

RNS Number : 8182L

WFCA PLC

07 September 2012

10 September 2012

WFCA plc

("WFCA", "the Company" or "the Group")

FINANCING UPDATE

WFCA plc (AIM: WFCA.L), a leading regional advertising and marketing agency, is pleased to announce that it has agreed an extension to the GBP300,000 loan ("Loan") from Hawk Investment Holdings Limited ("Hawk") which was announced on 15 March 2012 and which was scheduled to expire today. All other terms of the Loan remain unchanged; it continues to be secured by a debenture and incur interest at a rate 1% per month. The Loan is now repayable on 6 March 2013 being 180 days after 7 September 2012.

Hawk is beneficially owned by Bob Morton, the Company's non-executive Chairman, and Susan Morton.

The extension of the Loan falls to be treated as a related party transaction pursuant to the AIM Rules. Stephen Latter, Robert Hamer, Rodger Braidwood and John Foley, being the independent directors (Bob Morton being excluded from such decisions being a related party) consider, having consulted with Daniel Stewart & Company (the Company's Nominated Adviser), that the terms of the Loan are fair and reasonable insofar as the shareholders of WFCA are concerned.

Further enquiries:

WFCA plc

   Stephen Latter, Financial Director                Tel: [phone] 

Daniel Stewart & Company plc

   David Hart & James Felix                            Tel: [phone] 

WFCA plc is a uniquely placed full service Marketing Communications Agency and positioned as the "London Agency not in London". Their role is as a different kind of Agency, with completely integrated and full service resource delivering advertising, design, direct, digital and media solutions to a wide range of blue chip Clients, but at a much lower cost than their London based competitors.

This information is provided by RNS

The company news service from the London Stock Exchange

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