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4 Nov 2009 16:52
4 November 2009 Conroy Diamonds and Gold P.l.c. ("Conroy" or "the Company") Further re: Related Party Transaction
Further to the final results announcement released earlier today, Conroy (AIM: CDG), the gold exploration and development company focused on Ireland and Finland, announces the further terms of the loans advanced by Professor Conroy to support the working capital requirements of the Company.
As set out in the Chairman's statement dated 4 November 2009, during the year ended 31 May 2009 Professor Conroy advanced aggregate loans of EUR588,029. These loans were made in accordance with a letter of support dated 11 November 2008, which was renewed on 3 November 2009. The renewed letter of support provides confirmation of support from Professor Conroy for the current financial period ending 31 May 2010.
The loans have been and will continue to be made on normal commercial terms. The interest on the loans is currently accruing at a rate of 8.25 per cent per annum. The loans may be repaid at anytime but Professor Conroy has confirmed that he will not request repayment, other than in exceptional circumstances, within a period of less than one year.
Further enquiries:
Conroy Diamonds and Gold Plc Tel: 00 353 1 661 8958 Professor Richard Conroy Merchant John East Securities Limited Tel: 020 7628 2200 Simon Clements / Virginia Bull City Capital Corporation Limited Tel: 020 3178 3399
Charles Dampney Lothbury Financial Limited Tel: 020 7011 9411 Ron Marshman / Michael Padley
Further details on Conroy Diamonds and Gold can be found on its website at: www.conroydiamondsandgold.com
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CONROY DIAMONDS & GOLD PLC
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