Financing Update

RNS Number : 1461P

Blue Star Capital plc

30 September 2013

 



30 September 2013

Blue Star Capital plc

("Blue Star Capital" or "the Company")

Financing Update

Shareholder Loan Update

Blue Star Capital is pleased to announce that further to the announcement dated 1 August 2013, the Company has agreed a further extension to the shareholder loan agreement (the "Loan") entered into on 28 April 2011, and thereafter extended on 1 June 2012, 12 October 2012, 3 January 2013, 17 April 2013, 28 June 2013 and 1 August 2013. The original amount of the Loan was £400,000 which, with the accrued interest, had been due for repayment by 31 March 2012.

Save as set out below, the terms of the Loan remain unchanged, except that repayment, which had been extended to 30 September 2013, has now been deferred until 31 October 2013 (the "Final Redemption Date").

As at 30 September 2013, the amount outstanding under the Loan (including interest and repayment premium) was £601,832 ("Revised Principal").  The Revised Principal will accrue interest until the earlier of a) repayment of the Loan or b) the Final Redemption Date at a rate of 2.0% per month, or part month, from 30 September 2013 until repayment in full or the Final Redemption Date.

Enquiries:

Blue Star Capital plc	Tony Fabrizi	Tel:[phone]
Daniel Stewart & Company plc (Nomad & Joint Broker)	David Hart Director, Corporate Finance Martin Lampshire, Head of Corporate Broking	Tel: [phone]

 

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