Extension of director loan

RNS Number : 2371M

MJ Hudson Group PLC

20 January 2021

 

MJ Hudson Group plc

(the "Company" or "MJ Hudson"

Extension of director loan

MJ Hudson Group plc (AIM:MJH), the international asset management consultancy, announces that it has extended the terms of a director loan made to Matthew Hudson, the Chief Executive Officer of the Company.

As disclosed in the Group's AIM Admission Document, as part of a subscription for 1,070,250 ordinary shares by MJ Hudson members of staff at the time of the Company´s admission to the AIM market in December 2019, Matthew Hudson subscribed for 659,191 ordinary shares. Those shares were issued on a partly paid basis and the parties agreed that the subscription amount of £375,738.87 would be repaid by 3 March 2020 (the "Subscription Loan").

The independent directors have agreed to extend the period for repayment of the Subscription Loan until 31 December 2021 by entering into a letter of extension with Matthew Hudson. This extension of the payment period for the Subscription Loan is deemed to be a Related Party Transaction pursuant to AIM Rule 13 as Matthew Hudson is a director and significant shareholder of the Company. The directors of the Company other than Matthew Hudson are deemed independent for the purposes of the extension of the Subscription Loan and, having consulted with the Company's nominated adviser, Cenkos Securities Plc, consider the terms of the extension of the Subscription Loan to be fair and reasonable insofar as the Company's shareholders are concerned.

For further information contact:

MJ Hudson Group plc Matthew Hudson, CEO Andrew Walsh, IRO Katherine Hazelden, PR Director	[phone]
Cenkos Securities (Nomad and Joint Broker) Giles Balleny Stephen Keys Callum Davidson	[phone]
Investec Bank (Joint Broker) Christopher Baird David Flin	[phone]

About MJ Hudson

MJ Hudson, the asset management consultancy, provides legal and financial services, investment consultancy, outsourcing, analytics and complementary advice and support to fund managers, investors and their counterparties, together forming an end-to-end platform of services to asset management.

From its offices in Europe's major asset management centres and across North America, MJ Hudson's team of 180 professionals works in all alternative and traditional asset classes, including private equity, venture capital, hedge funds, real estate, infrastructure, energy, private credit and the equity and debt capital markets.

The firm was admitted to the AIM market of the London Stock Exchange on 12 December 2019 and trades under the MJH.L symbol.

 

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