Business
Loan Facility
Loan Facility.
About this update from Catalyst Media Group Plc
[{"type":"text","content":"\n Catalyst Media Group PLC\n10 April 2007\n\n\n Catalyst Media Group plc\n ('Catalyst' or the 'Company')\n Loan Facility\n\nThe Board of Catalyst is pleased to announce that it has today entered into an\nagreement for a new £4 million loan facility ('Facility') to be provided by\nNorth Atlantic Smaller Companies Investment Trust PLC and Oryx International\nGrowth Fund Limited. The funds provided under the Facility will be used to repay\na proportion of the facility that the Company has in place with Investec Bank\n(UK) Limited ('Investec') ('Investec Facility') so as to reduce the outstanding\nborrowings to Investec to below £5 million. At this level, under the terms of\nthe Investec Facility, Investec should no longer be entitled to exercise a\nwarrant to acquire an effective 1 per cent. of the Company's holding in\nSatellite Information Services (Holdings) Limited ('SIS') provided the balance\nof the Investec Facility is repaid in full by 30 September 2007. Following\ncompletion of the placing and open offer and the recent sale of of 1.67 per\ncent. of the Company's stake in SIS to Fred Done of BetFred bookmakers, the\nCompany now owns a 20.51 per cent. interest in SIS.\n\nInterest is charged on the Facility at a fixed rate of 13.25 per cent. per\nannum, payable quarterly in arrears. A nominal arrangement fee is payable in\nconnection with the Facility. The Facility is repayable on or by 10 April 2009\nand is secured by a fixed and floating charge over the Company's assets and a\nfirst fixed legal charge over the entire issued share capital of Catalyst Media\nHoldings Limited, a subsidiary of the Company.\n\nEnquiries:\n\nCatalyst Media Group plc\nMichael Rosenberg\nTel: 020 7927 6699\n\nStrand Partners Limited\nJames Harris/Angela Peace\nTel: 020 7409 3494\n\nEvolution Securities Limited\nTom Price/Hui Ling Tay\nTel: 020 7071 4300\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \nMSCSFFFWSSWSELL \n ","length":2313,"tagName":"div"}]