Catalyst Media Regulatory News (CMX)

10 Apr 2007 17:42

Catalyst Media Group PLC10 April 2007 Catalyst Media Group plc ("Catalyst" or the "Company") Loan Facility The Board of Catalyst is pleased to announce that it has today entered into anagreement for a new £4 million loan facility ("Facility") to be provided byNorth Atlantic Smaller Companies Investment Trust PLC and Oryx InternationalGrowth Fund Limited. The funds provided under the Facility will be used to repaya proportion of the facility that the Company has in place with Investec Bank(UK) Limited ("Investec") ("Investec Facility") so as to reduce the outstandingborrowings to Investec to below £5 million. At this level, under the terms ofthe Investec Facility, Investec should no longer be entitled to exercise awarrant to acquire an effective 1 per cent. of the Company's holding inSatellite Information Services (Holdings) Limited ("SIS") provided the balanceof the Investec Facility is repaid in full by 30 September 2007. Followingcompletion of the placing and open offer and the recent sale of of 1.67 percent. of the Company's stake in SIS to Fred Done of BetFred bookmakers, theCompany now owns a 20.51 per cent. interest in SIS. Interest is charged on the Facility at a fixed rate of 13.25 per cent. perannum, payable quarterly in arrears. A nominal arrangement fee is payable inconnection with the Facility. The Facility is repayable on or by 10 April 2009and is secured by a fixed and floating charge over the Company's assets and afirst fixed legal charge over the entire issued share capital of Catalyst MediaHoldings Limited, a subsidiary of the Company. Enquiries: Catalyst Media Group plcMichael RosenbergTel: 020 7927 6699 Strand Partners LimitedJames Harris/Angela PeaceTel: 020 7409 3494 Evolution Securities LimitedTom Price/Hui Ling TayTel: 020 7071 4300 This information is provided by RNS The company news service from the London Stock Exchange