REG - Sutton Harbour Grp - Loan Facilities

Sutton HarbourAnnouncement

27/04/2022 07:16

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RNS Number : 4492J  Sutton Harbour Group PLC  27 April 2022

27 April 2022

 

Sutton Harbour Group PLC

("Sutton Harbour" or the "Company")

Loan Facilities

 

Sutton Harbour Group plc (AIM: SUH), the AIM-listed marine and waterfront
regeneration specialist has agreed terms on two unsecured loan facilities of
£1.15 million each with FB Investors LLP and Rotolok (Holdings) Limited
(together the "Loans" or the "Facilities"). The Loans carry a fixed 8% gross
annual interest rate and will be available for up to two years from drawdown.
There are no other fees payable to FB Investors LLP and Rotolok (Holdings)
Limited under the Facilities. The Company intends to use the Facilities to
replace an existing loan.

The Loans constitute a related party transaction for the purposes of the AIM
Rules, as FB Investors LLP is controlled by the Beinhaker family and Rotolok
(Holdings) Limited is connected to non-executive director Sean Swales. The
directors, other than Philip Beinhaker, Corey Beinhaker and Sean Swales,
having consulted with the Company's nominated adviser, Arden Partners,
consider that the terms of the Loans are fair and reasonable insofar as
shareholders are concerned.

Enquiries

 Sutton Harbour Group plc           +44 (0) 1752 204186  Philip Beinhaker, Executive Chairman

                                                         Corey Beinhaker, Chief Operating Officer

                                                         Natasha Gadsdon, Finance Director
 Arden Partners (NOMAD and Broker)  +44 (0)20 7614 5900  Paul Shackleton

                                                         Elliot Mustoe

 

Notes to Editors

Sutton Harbour Group plc (SUH) is an AIM listed company specialising in marine
operations, waterfront regeneration and destination creation in Plymouth and
South West England.

The Company operates Sutton Harbour Marina, King Point Marina and Plymouth
Fisheries. Operational activities include mixed-use lettings, car parking and
support services to harbour users, property management and regeneration and
asset enhancement.

Sutton Harbour Group plc is committed to being the leading marine and
waterfront regeneration specialist in Southern England, and to positioning
Sutton Harbour in Plymouth as a destination of national interest.

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").

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