20th Sep 2011 13:46
20 September 2011
OPSEC SECURITY GROUP PLC
(the "Company")
Investcorp Loan Agreement
Further to the announcement made on 22 August 2011, OpSec Security Group plc announces that Orca Holdings Limited ("Orca") has now confirmed the amounts due to be repaid under the loan agreement dated 1 February 2010 (the "Loan Agreement"). The total amount due to be repaid by 31 October 2011 is US$9.6 million. This comprises the total amount of the loan outstanding, being US$7.0m, and accrued interest and other payments. Under the terms of the Loan Agreement, the amount of accrued interest and other payments outstanding was US$3.7m. However, Orca has agreed to a reduced settlement of US$2.6m.
The Company is in advanced discussions with banks regarding the refinancing of the loan and should be in a position to make an announcement on the terms of the refinancing shortly.
For further information, please contact:
OpSec Security Group plc Mark Turnage, Chief Executive Mike Angus, Finance Director | 0191 417 5434 |
Shore Capital & Corporate Ltd Stephane Auton / Edward Mansfield | 020 7408 4090 |
Weber Shandwick Financial Nick Oborne / Stephanie Badjonat | 020 7067 0700
|
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