Related Party Transaction • May 14, 2020
Related Party Transaction
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National Storage Mechanism | Additional information
RNS Number : 9495M
CEPS PLC
14 May 2020
CEPS PLC
("CEPS" or the "Company")
Related Party Transaction
CEPS plc announces that David Horner, a director of the Company, has today made a loan (the "Loan") to the Company of £125,000 to provide additional working capital during the current COVID-19 situation. This is in addition to the measures taken to reduce overheads set out in the announcement of 15 April 2020.
The Loan, which is unsecured, carries zero interest and has no fixed repayment date, is deemed to be a Related Party Transaction pursuant to AIM Rule 13 as David Horner is a director of the Company. The directors of the Company who are considered independent for the purposes of the Loan, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, consider the terms of the Loan to be fair and reasonable insofar as the Company's shareholders are concerned.
The announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Enquiries
| CEPS PLC David Horner, Chairman |
+44 1225 483030 |
| Cairn Financial Advisers LLP James Caithie / Tony Rawlinson / Ludovico Lazzaretti |
+44 20 7213 0880 |
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