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Issue of Convertible Loan

4th Mar 2014 07:04

RNS Number : 4457B
4d Pharma PLC
04 March 2014
 



4d pharma plc

("the Company" or" 4d pharma")

Issue of Convertible Loan to GT Biologics ltd

("the Loan")

4d pharma is pleased to announce that on 3 March 2014 it entered into an agreement to provide a convertible loan facility (exercisable at 4d pharma's discretion) of £1,000,000 to GT Biologics Limited. The Loan will enable GT Biologics ltd to accelerate the development of its live biotherapeutic candidates.

The principal amount of the loan is £1,000,000 and Interest shall accrue daily on the loan at the rate of 4% per annum above the Bank of England base rate. The loan shall be repaid on 31 December 2017. Under the AIM Rules for Companies, the Loan is a related party transaction, under AIM rule 13. David Norwood, having consulted with Zeus Capital, considers that the terms of the transaction are fair and reasonable insofar as shareholders of the Company are concerned.

For Further information please contact:

4d pharma plc

Duncan Peyton

07879 408000

Zeus Capital

Ross Andrews/John Depasquale

020 7533 7727

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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