Business
Related Party Loan
Related Party Loan.
About this update from Rome Resources Plc
[{"type":"text","content":"\n RNS Number : 4809A Pathfinder Properties PLC 01 August 2008 \n \n\n\n\n\nFOR IMMEDIATE RELEASE 1 August 2008 \n\n\n\nPATHFINDER PROPERTIES PLC\n('Pathfinder' or the 'Company')\n\nRelated Party Loans \n\n\nThe Company announces that it has arranged unsecured loans of £455,000 and £200,000 respectively from two Directors of the Company, G Lee and E Azouz. These loans, amounting to £655,000 in aggregate, have been made through two companies controlled by Mr Lee and Mr Azouz and will be used to provide additional working capital to the Company. The loans are for an indefinite period and are repayable on demand with interest being charged on the loans at a rate of 8% per annum.\n\nUnder the AIM Rules, the loans are classified as a related party transaction. The Directors, other than Mr Lee and Mr Azouz who are interested in the transaction, (the 'Independent Directors'), who have consulted with Beaumont Cornish Limited, consider the terms of the transaction to be fair and reasonable insofar as the shareholders of the Company are concerned. \n\n\n\n\nContact: Gerry Lee, Pathfinder Properties plc on 020 8731 0110\n Roland Cornish, Beaumont Cornish Limited on 020 7628 3396.\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUUUMCRUPRGPG \n ","length":3801,"tagName":"div"}]