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Related Party Transaction

28th Aug 2020 07:00

RNS Number : 3880X
CEPS PLC
28 August 2020
 

CEPS PLC

 ("CEPS" or the "Company")

 

Related Party Transaction

 

CEPS plc announces that David Horner, a director of the Company, agreed on 27 August 2020 to provide a loan facility (the "Loan Facility") to the Company of £100,000 (in addition to the loan of £125,000 announced on 14 May 2020) for general working capital for the Company due to the current COVID-19 situation.

 

 

The Loan Facility, which is unsecured, carries zero interest and has no fixed repayment date, is deemed to be a Related Party Transaction pursuant to AIM Rule 13 as David Horner is a director of the Company. The directors of the Company who are considered independent for the purposes of the Loan Facility, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, consider the terms of the Loan Facility to be fair and reasonable insofar as the Company's shareholders are concerned.

 

The announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

Enquiries

 

CEPS PLC

David Horner, Chairman

 

+44 1225 483030

 

Cairn Financial Advisers LLP

James Caithie / Sandy Jamieson / Ludovico Lazzaretti

 

+44 20 7213 0880

 

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MSCSESFAWESSEIA

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