11th Dec 2013 07:00
ENERGISER INVESTMENTS PLC - Mezzanine Finance FacilityENERGISER INVESTMENTS PLC - Mezzanine Finance Facility
PR Newswire
London, December 10
11 December 2013 Energiser Investments plc ("Energiser" or the "Company") Mezzanine Finance Facility Energiser is pleased to announce that it has entered into an agreement with anexperienced housebuilder to provide mezzanine finance to facilitate thedevelopment of twelve luxury homes in Kingswood, Surrey. The development site has full planning permission and works will commence inJanuary 2014 and are expected to be completed within a fifteen month period. The development is within an exclusive parkland setting and comprises ninehouses and three apartments with an anticipated gross development value ofcirca £8.4 million. Energiser will provide up to £2.6 million mezzanine finance for the developmentand will be entitled to the greater of either a 50 per cent. share of the netprofit of the scheme or a minimum return of £785,000, assuming sufficientreturns are generated. Energiser has obtained commitments of funding from anumber of investors to underwrite its financial obligation to this project. Bill Weston, Chairman, commented, "this is an excellent opportunity forEnergiser which we hope will be the first of a number of similar transactionswhich will enable a consistent profit stream to be established." For further information, please visit www.energiserinvestments.co.uk orcontact: Energiser Investments plc +44 1494 762 450 Nishith Malde Cairn Financial Advisers LLP +44 20 7148 7900 Jo Turner / Liam Murray
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