Related Party Transaction

RNS Number : 5328M

CEPS PLC

22 January 2021

 

22 January 2021

CEPS PLC

("CEPS" or the "Company")

Related Party Transaction

CEPS plc announces that David Horner, a director of the Company, agreed on 21 January 2021 to provide a loan facility (the "Loan Facility") to the Company of an additional £100,000 (in addition to the loan of £125,000 announced on 14 May 2020, the loan of £100,000 announced on 28 August 2020 and the loan of £425,000 announced on 1 October 2020) for general working capital for the Company due to the ongoing 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.

The Directors of the Company accept responsibility for the content of this announcement.

Enquiries

CEPS PLC David Horner, Chairman	[phone]
Cairn Financial Advisers LLP James Caithie / Sandy Jamieson / Ludovico Lazzaretti	[phone]

 

END

 

 

MSCSEWESFEFSESF