21st Feb 2007 11:20
CCH International plc21 February 2007 Press Release 21 February 2007 CCH International plc ("CCH" or "the Company") Sign trade finance agreement with Alphasteel whilst increasing its funding base CCH International PLC (AIM: CCH), the trade finance Group is pleased to announcethat it has signed agreements that will both increase its funding base whilstfacilitating a 3 year finance agreement with Alphasteel Limited of Wales . Theagreement with Alphasteel Limited allows for funding against the company's salesuntil 2010. Sharia'a compliant financing has been arranged with the European IslamicInvestment Bank plc ('EIIB'), which has provided a CCH subsidiary with asterling denominated financing facility. This is CCH's first agreement withEIIB, the first independent Sharia'a compliant Islamic investment bank to beauthorised and regulated by the Financial Services Authority. EIIB is a leadingspecialist in Islamic financial services, with well-established networks andinfrastructure throughout Europe and the Middle East, and as such, therelationship with EIIB has clear strategic benefits for the CCH Group. Eren Nil, commenting on the agreements said: "the Alphasteel and EIIB facilitiesare significant as they are CCH's first major financing of a UK based companyand a key addition to our funding base which has traditionally been provided byMiddle Eastern institutions. We look forward to expanding our relationship withboth Alphasteel and EIIB in the near future." Mohammad Rostami Safa, Chairman of Alphasteel Limited stated: "We are pleased tobe working with CCH. It had been challenging to find non-traditional financingfacilities from the UK banking community and we are pleased to have found thisin CCH, a flexible and innovative financing partner. Whilst this is an initialfunding line, we look forward to expanding our relationship with CCH." EIIB issued its own press release today on the same subject ( www.eiib.co.uk) - Ends - For further information, please contact: CCH International Plc www.cch-international.comEren Nil, Managing Director/ Tel: +44 (0) 20 8334 0871Richard Fossett, Director and [email protected]@cch-international.com Insinger de Beaufort http://www.insinger.comSimon Fox, Tel: +44 (0) 207 190 [email protected] Abchurch Communications www.abchurch-group.comHeather Salmond / Charlie Jack Tel: +44 (0) 20 7398 [email protected] Notes to editors - CCH International offers a range of finance products to institutions andcorporations wishing to raise finance or to sell on trade receivables eitherthrough conventional means or through its own internet based brokerage facilitywww.cch-etrade.com. The Company is listed on the Alternative Investment Market(AIM) of the London Stock Exchange. CCH International is also a specialist inIslamic Finance and has the ability to arrange for Morabaha, Ijara, Istisna andother compliant facilities. CCH International has offices in England, Germany and Bahrain, as well asstrategic partnerships / affiliates / relationships in Australia, UAE, Turkey,and the USA. Further information on the Company is available atwww.cch-international.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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