Business
Loan Amendment
Loan Amendment.
About this update from Proteome Sciences Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8662T\n Proteome Sciences PLC\n 30 March 2021\n \n \n \n 30 March 2021\n \n Proteome Sciences plc\n (\"Proteome Sciences\" or the \"Company\")\n \n Loan amendment\n \n \n \n On 3 July 2018, the Company entered into a £1 million loan facility with Vulpes Investment Management Private Limited (\"VIM\") (the \"Loan\"). The Directors of Proteome Sciences are now pleased to announce that the Loan has been amended such that the Loan (of which £700,000 is currently drawn) and all accrued interest is now repayable on 1 May 2022 (previously 1 May 2021) (the \"Loan Amendment\"). All other terms of the Loan remain the same as announced on 3 July 2018, including that interest will accrue at the annual rate of 2.5 per cent. above the UK sterling base rate of Barclays Bank plc.\n \n Mr Martin Diggle, Non-Executive Director of Proteome Sciences, is a director and partner of VIM. VIM manages the Vulpes Life Sciences Fund, which is the shareholder of 22.3 per cent. of Proteome Sciences. By virtue of Mr Diggle being a director of the Company and a partner and director of VIM, the Loan Amendment constitutes a related party transaction in accordance with the AIM Rules for Companies. Accordingly, the directors independent of the transaction, being all directors of the Company save for Mr Diggle, consider, having consulted with the Company's nominated adviser, that the Loan Amendment is fair and reasonable insofar as the Company's shareholders are concerned.\n \n \n For further information please contact:\n \n \n \n \n Proteome Sciences plc \n \n \n \n \n \n Mariola Soehngen, M.D., Chief Executive Officer\n \n \n \n \n \n \n Dr Ian Pike, Chief Scientific Officer\n \n \n \n \n \n \n \n Tel: +44 (0)20 7043 2116\n \n \n \n \n \n \n Richard Dennis, Chief Commercial Officer\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Allenby Capital Limited (AIM Nominated Adviser & Broker) \n \n \n \n \n \n \n John Depasquale / Jeremy Porter \n \n \n \n \n Tel: +44 (0) 20 3328 5656\n \n \n \n \n \n \n About Proteome Sciences plc. (\n \n \n www.proteomics.com\n \n \n )\n \n \n \n \n \n Proteome Sciences plc is a specialist provider of contract proteomics services to enable drug discovery, development an...