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REG - Ten Alps PLC - Director Appointment and Issue of Loan Notes <Origin Href="QuoteRef">TAL.L</Origin>

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RNS Number : 1709N
Ten Alps PLC
24 July 2014 
 
24 July 2014 
 
Ten Alps Plc 
 
Appointment of Non-Executive Board Member and Issue of Loan Notes 
 
Ten Alps Plc ("Ten Alps" or the "Company"), producer of high quality TV and
radio together with integrated publishing and communications content, is
pleased to announce the appointment of Mark Wood as non-executive director
with immediate effect. 
 
Mark William Wood, aged 62, has extensive knowledge and experience in the TV,
Publishing and Digital sectors. He 
 
is a non-executive director at Future plc and Citywire plc. He was CEO of
Future plc from 2011 to 2014 and accelerated the growth of Future plc's
digital business, with the company named as UK Digital Publisher of the Year
in 2011, 2012 and 2013.

Prior to joining Future plc, Mark was Chief Executive of ITN, the television
news organisation, where he developed a range of digital ventures, including a
world-leading digital image business. Preceding that, he was Editor-in-Chief
and Head of Media at Reuters. He began his career as a foreign correspondent
for Reuters and was based in Berlin, Moscow, Bonn and Vienna.He is currently a
member of the Reuters Editorial Advisory Board. 
 
Mark Wood is or has been a director or partner of the following companies in
the past five years: 
 
 Current Directorships/Partnerships     Past Directorships/Partnerships       
 Future plc                             Independent Television News (ITN)     
 Citywire PlcCitywire Holdings Limited  Reuters Plc                           
 ITN Archive Limited                    Espresso Education Ltd                
                                        Scottish News Consortium              
                                        Future US, Inc.                       
                                        Future Publishing (Overseas) Limited  
 
 
Save as disclosed, there is no further information required to be disclosed
under paragraph (g) of Schedule 2 of the AIM Rules for Companies. 
 
Peter Bertram, Chairman commented: "Mark's extensive experience in our markets
makes him an ideal candidate to assist in our development." 
 
Issue of loan notes 
 
The Group also announces that it has received an unsecured capital injection
amounting to £300,000 from various shareholders.  A £150,000 Loan Note has
been issued to Herald Investment Trust, a substantial shareholder, £100,000 to
certain other shareholders and £50,000 to Tim Hoare,  a non-executive director
of the Company. 
 
The proceeds of the capital injection will be used for the Company's business
development and general working capital requirements. Interest under the terms
of the loans will be rolled over and charged at a rate of 3 per cent. over
monthly LIBOR with a repayment date of 30 June 2015 for £250,000 of the loan
notes. The £50,000 loan note issued to Tim Hoare will carry the same rolled
interest accrual but will be due on 30 September 2014. 
 
Provision of the Loans by Herald Investment Trust and Tim Hoare are related
party transactions with the Company pursuant to Rule 13 of the AIM Rules for
Companies. The other Directors who are independent to these transactions
consider, having consulted with its nominated adviser, that the terms of the
Loans are fair and reasonable insofar as the Company's shareholders are
concerned. 
 
For further information, please contact: 
 
 Ten Alps plc                                                           
 Peter Bertram, Chairman                     Tel: +44 (0) 20 7878 2311  
 c/o Moira McManus                                                      
 www.tenalps.com                                                        
                                                                        
 Grant Thornton, Nominated Adviser           Tel: +44 (0) 20 7383 5100  
 Colin Aaronson / Jen Clarke/ Jamie Barklem                             
 www.grant-thornton.co.uk                                               
                                                                        
 
 
This information is provided by RNS
The company news service from the London Stock Exchange

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