13th Mar 2012 07:00
13 March 2012
Concha plc
("Concha" or the "Company")
Short Term Loan Facility
Concha plc, the AIM listed investment vehicle, formerly known as Hot Tuna (International) PLC, announces that it has established a short term loan facility of up to £750,000 ("the Loan") with Churchill Media Limited, a private company ("CML"). CML, based in the UK, provides services within the media, technology and communications sectors. Repayable on demand and no longer than 10 months in duration, the interest income (at 6% above LIBOR) is sufficiently greater than traditional debt arrangements and the Loan shall be securitized against the assets of CML.
M Barney Battles, Non-Executive Chairman of Concha commented "By entering into this loan facility with CML we believe we will receive a better return on our cash than simply leaving the money on deposit whilst we actively pursue strategic acquisition opportunities on behalf of Concha's shareholders during the term of the Loan."
Further enquiries:
Concha plc |
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M Barney Battles, Non-Executive Chairman | Tel: 0778 976 6242 |
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Seymour Pearce (Nominated Adviser and Broker) | |
Mark Percy / Catherine Leftley (Corporate Finance) | Tel: 020 7017 8000 |
Katie Ratner (Corporate Broking) |
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Notes to Editors
Concha PLC is an AIM listed investment vehicle created after the disposal of certain intellectual property and assets of the "Hot Tuna" fashion brand.
http://www.Conchaplc.com/
Related Shares:
Concha