Further re: Related Party Transaction
November 24 2008 - 10:01AM
UK Regulatory
24 November 2008
Conroy Diamonds and Gold Plc
("Conroy" or "the Company")
AIM: CDG
Further re: Related Party Transaction
Further to the final results announcement dated 11 November 2008, Conroy, the
gold exploration and development company focused on Ireland and Finland,
announces the further terms of the loans advanced by Professor Conroy to
support the working capital requirements of the Company.
As set out in the Chairman's statement dated 11 November 2008, during the year
ended 31 May 2008 Professor Conroy advanced aggregate loans of Euro734,780. These
loans were made in accordance with a letter of support dated 24 November 2007,
which was renewed on 11 November 2008. The renewed letter of support provides
confirmation of support from Professor Conroy for the current financial period
ending 31 May 2009.
The loans have been and will continue to be made on normal commercial terms.
The interest on the loans is currently accruing at a rate of 8.25 per cent per
annum. The loans may be repaid at anytime but Professor Conroy has confirmed
that he will not request repayment, other than in exceptional circumstances,
within a period of less than one year.
Further enquiries:
Conroy Diamonds and Gold Plc Tel: 00 353 1 661 8958
Professor Richard Conroy
John East & Partners Limited Tel: 020 7628 2200
Jeffrey Coburn
City Capital Corporation Limited Tel: 020 7842 5867
Charles Dampney
Lothbury Financial Limited Tel: 020 7011 9411
Ron Marshman / Michael Padley
END
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