Ashley House PLC Debt Facility from Related Party (1135K)
July 04 2017 - 10:27AM
UK Regulatory
TIDMASH
RNS Number : 1135K
Ashley House PLC
04 July 2017
Ashley House plc
Debt Facility from Related Party
Ashley House plc ("Ashley House" or the "Company"), the health
and community care property partner, is pleased to advise that it
has today signed a new loan facility (the "Facility") of GBP200,000
being part of its continuing programme of refinancing of the
Company's debt facilities.
Following the completion of the Walton on the Naze Extra Care
scheme, the security supporting the loan from Invescare has changed
resulting in a requirement to repay GBP645,000 of that facility.
This is being made out of internal cash reserves supported by this
loan.
The Facility is being provided to the Company by Maureen Moy,
spouse of Non-executive Director, John Moy. It is available for an
initial four month period and is secured against individual assets
of the Company.
Accordingly, the Facility is a Related Party Transaction
pursuant to AIM Rule 13. Ashley House confirms that its directors,
acting without John Moy's participation and having consulted with
the Company's Nominated Adviser, consider that the terms of the
transaction are fair and reasonable in so far as the Company's
shareholders are concerned.
Enquiries:
Ashley House plc 01628 600 340
Antony Walters
Jonathan Holmes
WH Ireland Ltd 0207 220 1666
(Nominated Adviser and broker to Ashley House plc)
Adrian Hadden
Alex Bond
This information is provided by RNS
The company news service from the London Stock Exchange
END
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