|
Home
Up
Company Information
Board Details
Committee Details
Shareholder Communications
Shareholder Information
Share Information
Advisers
| |
Millwall Holdings plc
(the “Company”)
Facility Agreement
The Company has completed an amendment and restatement agreement (“Amendment
Agreement”) to the original facility agreement with Chestnut Hill Ventures LLC
(“CHV”) dated 2 March 2007 pursuant to which CHV agreed to provide an additional
Facility B Loan to the Company of up to £3 million. The original loan, the
Facility A Loan, which was for £5 million, is repayable on or before the third
anniversary of funds being drawn down under it and the Facility B Loan which is
for up to £3 million is repayable on or before the second anniversary of funds
being drawn down under it.
The Facility B Loan will carry interest at the rate of 10 per cent per annum, is
not convertible and contains a condition subsequent that the directors of the
Company provide further loans of not less than £300,000 in aggregate to the
Company by 2 May 2008. The Amendment Agreement updates the terms of the facility
agreement entered into on 2 March 2007.
The Facility B Loan will be used for the Company’s working capital requirements.
John Berylson a director of the Company has a controlling interest in CHV and
CHV is a substantial shareholder in the Company therefore the Amendment
Agreement will be a related party transaction under the AIM Rules. The directors
of the Company, other than John Berylson and Demos Kouvaris (both of whom are
also directors of CHV), consider, having consulted with Seymour Pierce Limited,
that the terms of the transaction are fair and reasonable insofar as
shareholders of the Company are concerned.
Millwall’s Executive Deputy Chairman Heather Rabbatts commented: “The Board are
delighted that John has demonstrated his support both for the team and the
company at this time. No-one is under any illusion, we face a vital game against
Gillingham at The Den on Saturday and a difficult period still to negotiate
before the end of the season. But what we have at Millwall now is much needed
stability and leadership from the top, and this news is a timely boost for the
manager, his players, staff and fans alike. Going forward, we are confident that
the club is in very good hands and is planning for a bright future.”
Enquiries
Heather Rabbatts
Millwall Holdings plc Tel: 020 7232 1222
|
![[Company Logo Image]](images/header.jpg)