Business
Further re: Related Party Transaction
Further re: Related Party Transaction.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n 24 November 2008\n\n Conroy Diamonds and Gold Plc \n\n (\"Conroy\" or \"the Company\") \n\n AIM: CDG \n\n Further re: Related Party Transaction \n\nFurther to the final results announcement dated 11 November 2008, Conroy, the\ngold exploration and development company focused on Ireland and Finland,\nannounces the further terms of the loans advanced by Professor Conroy to\nsupport the working capital requirements of the Company.\n\nAs set out in the Chairman's statement dated 11 November 2008, during the year\nended 31 May 2008 Professor Conroy advanced aggregate loans of €734,780. These\nloans were made in accordance with a letter of support dated 24 November 2007,\nwhich was renewed on 11 November 2008. The renewed letter of support provides\nconfirmation of support from Professor Conroy for the current financial period\nending 31 May 2009.\n\nThe loans have been and will continue to be made on normal commercial terms.\nThe interest on the loans is currently accruing at a rate of 8.25 per cent per\nannum. The loans may be repaid at anytime but Professor Conroy has confirmed\nthat he will not request repayment, other than in exceptional circumstances,\nwithin a period of less than one year.\n\nFurther enquiries:\n\nConroy Diamonds and Gold Plc Tel: 00 353 1 661 8958\n \nProfessor Richard Conroy \n \nJohn East & Partners Limited Tel: 020 7628 2200\n \nJeffrey Coburn \n \nCity Capital Corporation Limited Tel: 020 7842 5867\n \nCharles Dampney \n \nLothbury Financial Limited Tel: 020 7011 9411\n \nRon Marshman / Michael Padley \n\n\n \n ","length":2803,"tagName":"div"}]