Last checked at 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.
Enquiries:
| K3 Business Technology Group plc | Andy Makeham, Chief Executive | T: 01282 864111 |
| David Bolton, Chief Finance Officer | ||
| Daniel Stewart (NOMAD) | Paul Shackleton | T: 020 7776 6550 |
| Biddicks | Katie Tzouliadis | T: 020 7448 1000 |