MG Capital PLC: Loan Agreement | Company Announcements

Wednesday 31 December, 2008

MG Capital PLC

Loan Agreement

RNS Number : 9641K

MG Capital PLC

31 December 2008

MG Capital plc

('MG Capital' or 'the Company')

Director Loan

The Company announces that its Chairman, Mr. Peter Hannen, has agreed to lend to the Company the sum of £86,000 ('the Loan'). The Loan is unsecured and the Company may elect to repay the Loan or part of it at any time. The principal amount of the Loan outstanding from time to time will carry interest at the rate of 6 per cent per annum. The Loan is repayable on receipt of one month's notice from the lender. Mr Hannen made a further loan of £10,000 to the Company on identical terms on 25 November 2008.

With the exception of Mr Hannen, who is involved in the transactions as a related party, the directors of MG Capital consider, having consulted with the Company's nominated adviser, that the terms of the transactions are fair and reasonable insofar as its shareholders are concerned.

- Ends -

For further information, please contact:

MG Capital plc
Charles Fowler	Tel: +44 (0) 20 7332 2040

Nominated Adviser:

Grant Thornton UK LLP

Gerry Beaney/Fiona Kindness

Tel: +44 (0) 20 7383 5100

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCWUGBUPUPRGPG

Investegate takes no responsibility for the accuracy of the information within the site.

The announcements are supplied by the denoted source. Queries about the content of an announcement should be directed to the source. Investegate reserves the right to publish a filtered set of announcements. NAV, EMM/EPT, Rule 8 and FRN Variable Rate Fix announcements are filitered from this site.