REG - Inspired Capital PLC - Additional Debt Facilities <Origin Href="QuoteRef">INSCI.L</Origin>

InspiredAnnouncement

16/09/2015 07:01

RNS Number : 1715Z
Inspired Capital PLC
16 September 2015
16 September 2015
Inspired Capital plc
("Inspired" or the "Company")
Additional Debt Facilities
Inspired Capital plc, a challenger provider of customer-focused financial solutions to SMEs is pleased to announce that is has agreed the terms of a 10.0 million debt finance facility (the "Facility") from Tavistock Ventures Inc. ("Tavistock Ventures"). The proceeds of the Facility will be used to finance the Company's general working capital and to allow the Company to grow its loan book.
The Facility is unsecured and will charge an interest rate of 5 per cent. per annum accruing on a daily basis and calculated on the actual number of days elapsed. The interest terms are flexible and interest will be payable quarterly commencing on 30 September 2015 but only if Inspired has sufficient cashflow, otherwise the unpaid interest is compounded and added to the Facility. The Facility will be repayable on 30 June 2016 or such other date as the parties may agree. As a result of Tavistock Ventures being a related party under the AIM Rules for Companies, the directors excluding Ron Robson and David Craven, having consulted with the Company's nominated adviser Cenkos, consider the terms of the Facility to be fair and reasonable insofar as the Company's shareholders are concerned.
Inspired
Ron Robson
Neil McMyn
via Newgate
Cenkos Securities (Nomad and Broker)
Max Hartley/Harry Pardoe (Corporate Finance) 
+44 (0) 20 7397 8900
Newgate Communications
Tim Thompson
Andre Hamlyn
Helena Bogle
+44 (0) 20 7653 9850

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