K3 Business Technology Group Regulatory News (KBT)

9 Jan 2009 09:36

9 January 2009

K3 BUSINESS TECHNOLOGY GROUP PLC

('K3' or the 'Company')

Related Party Transaction

On 29 December 2008, K3 entered into a short term loan arrangement with CA Fastigheter AB, a company connected with Mr PJ Claesson, a director of the Company so as to ensure prudent liquidity over the year end period. On 7 January 2009, the loan, amounting to GBP 1,000,000, was repaid in full in accordance with its terms. 

The transaction was a Related Party transaction in accordance with the AIM rules. A fee and costs of approximately GBP 20,000 in aggregate was paid to CA Fastigheter AB in respect of the loan. 

Excluding Mr. Claesson, the directors and the Nominated Adviser consider that the terms of the transaction were fair and reasonable insofar as shareholders were concerned.

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