19 Dec 2017 14:20
19 December 2017
Octagonal Plc (LSE: OCT)
Director's Dealing
Octagonal Plc (LSE: OCT), the AIM traded financial services group, announces that John Gunn, Chief Executive Officer, has today entered into an arrangement whereby he can borrow up to £300,000 from a third party financial services group on a one year term (the "Loan Facility"). Under the terms of the Loan Facility, John Gunn has secured the Loan Facility against the appropriate amount of shares, which does not exceed 200% of the value drawn against Loan Facility. Amounts drawn under the Loan Facility will accrue interest at a variable rate, currently approximately 3%, allow John Gunn to retain his voting rights and rights to any dividends with the event of default being triggered should the value of John Gunn's holding in Octagonal fall below 200% of the outstanding value of the Loan Facility. John Gunn expects to repay the Loan Facility within one year.
END.
-ENDS-
For further information please visit www.octagonalplc.com or contact:
Octagonal Plc | +44 (0) 20 7048 9400 |
John Gunn, CEO | |
Beaumont Cornish Limited (Nominated Adviser and Broker) James Biddle / Roland Cornish | +44 (0) 20 7628 3396 |