REG - CEPS PLC - Third party loan and related party transaction

CepsAnnouncement

09/05/2025 07:00

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RNS Number : 9764H  CEPS PLC  09 May 2025

 

9 May 2025

CEPS PLC

 ("CEPS" or the "Company")

 

Third party loan and related party transaction

 

On 20 May 2021 the Company announced that it had secured a third-party loan
for £2,000,000 which was repayable on or before 30 June 2022 (the "Loan").
On 13 December 2021 the Company announced that the Loan had been extended such
that it was repayable on or before 30 June 2025.  All other terms of the Loan
remained the same including the annual interest rate of 7 per cent accruing
daily and interest being payable in arrears on 31 March, 30 June, 30 September
and 31 December.

 

CEPS announces that the Loan has been extended for a further 12 months such
that it is repayable on or before 30 June 2026.  The annual interest rate has
been increased to 9 per cent effective from 15 May 2025.  All other terms of
the Loan remain the same.

 

CEPS' obligations in respect of the Loan have been guaranteed by Mr David
Horner, a director of the Company, and the provision of the guarantee is
considered to be a related party transaction under AIM Rule 13.  Mr Horner is
not receiving any benefit from the provision of the guarantee.

 

The directors of the Company who are considered independent for the purposes
of the Loan, being Vivien Langford, Kevin Allen and David Johnson, having
consulted with Cairn Financial Advisers LLP, the Company's Nominated Advisor,
consider the guarantee of the Loan by David Horner to be fair and reasonable
insofar as the Company's shareholders are concerned.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

The Directors of the Company accept responsibility for the content of this
announcement.

 

Enquiries:

 

 CEPS PLC

 Vivien Langford, Group Finance Director   +44 1225 483030

 Cairn Financial Advisers LLP

 Sandy Jamieson /                          +44 20 7213 0880

 Emily Staples

 

 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

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