TIDMFEN

RNS Number : 8240J

Frenkel Topping Group PLC

03 July 2017

3 July 2017

Frenkel Topping Group plc

("Frenkel Topping" or the "Group")

Repayment of GBP3m Commercial Property SPV Loan Investment

Frenkel Topping Group plc (AIM: FEN), the specialist independent financial advisor and asset manager focused on asset protection for vulnerable clients, announces that further to the announcement on 23 January 2017, FCFM Group Properties IV ("NewCo") Ltd, repaid the GBP3 million Commercial Property SPV loan to the Group on 30 June 2017. In addition, NewCo has acquired the Group's 37.5% interest in NewCo for GBP150,000, an amendment to the original terms of the agreement. As a result of these payments, the Group has received approximately GBP3.3 million of cash from NewCo, having initially provided GBP3.0 million of financing to NewCo on 23 January 2017.

The amendment of the terms of the repurchase of the 37.5% interest in Newco from Frenkel Topping by NewCo is considered a related party transaction pursuant to AIM Rule 13 of the AIM Rules for Companies (the "Related Party Transaction"). The independent Directors of the Company (being Richard Fraser, Julie Dean and Mark Holt) consider, having consulted with finnCap Ltd, that the terms of the Related Party Transaction are fair and reasonable insofar as shareholders of the Company are concerned.

This announcement contains inside information for the purposes of article 7 of eu regulation 596/2014

 
 Investor enquiries 
  Jason Granite, Executive Chairman 
  Richard Fraser, Chief Executive 
  Officer                                +44 (0)161 886 
  Julie Dean, Chief Financial Officer     8000 
 finnCap Limited 
  Adrian Hargrave, James Thompson, 
  Alex Price (Corporate Finance)         +44 (0)20 7220 
  Tony Quirke (Corporate Broking)         0500

This information is provided by RNS

The company news service from the London Stock Exchange

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(END) Dow Jones Newswires

July 03, 2017 02:00 ET (06:00 GMT)

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