TIDMTTV
9 April 2010
Talent Group plc
(`Talent' or the `Company')
Related Party Loan
Terry Bate, Chairman of the Company, has committed to make available an
unsecured loan facility of up to GBP440,000 to the Company to provide production
finance for an anticipated forthcoming, one-off, commission. The loan, which
will be drawn down in stages against production costs incurred, will be repaid
in full, together with interest to be charged at the rate of 7 per cent. per
annum, following completion of the commission. The directors expect repayment
to take place no later than 20 August 2010). This arrangement does not affect
the terms of Mr Bate's current loan to the Company of GBP700,000, on which
interest is payable at the rate of 6 per cent. per annum.
Under the AIM Rules, the additional loan to be provided by Mr Bate and the
interest payable thereon is classified as a related party transaction. The
directors, other than Mr Bate who is interested in the transaction (the
`Independent Directors'), who have consulted with Merchant John East Securities
Ltd, consider the terms of the transaction to be fair and reasonable insofar as
the shareholders of Talent are concerned. In advising the Independent
Directors, Merchant John East Securities Ltd has relied upon their commercial
assessment.
ENQUIRIES:
Talent Group plc Tel: 020 7822 3900
Tony Humphreys
Merchant John East Securities Ltd Tel: 020 7628 2200
John East / Simon Clements
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