Revel Collect Regulatory News (RBG)

9 May 2007 07:01

Rensburg Sheppards plc09 May 2007 The board of Rensburg Sheppards plc ('the Company') is pleased to announce thaton 8 May 2007, £10 million of the £60 million subordinated loan ('the Loan')which was entered into with Investec 1 Limited ('Investec') on 6 May 2005 as apart of the consideration for the acquisition by the Company of Carr SheppardsCrosthwaite Limited from Investec, has been repaid ahead of schedule. The Loan comprised £45 million at a fixed rate of interest of 7.155% per annumand £15 million at a floating rate of interest of 2.25% above LIBOR. The Loanwas originally scheduled for repayment in equal annual instalments of £5.625million for the fixed element and £1.875 million for the floating element,commencing on 6 May 2008. The repayment on 8 May 2007 of £10 million was madewholly against the floating rate portion of the Loan. No penalty arose from themaking of this prepayment. Under the terms of the Loan agreement, thisprepayment is to be applied in chronological order against the future scheduledrepayment obligations of the floating rate portion of the Loan. All accruedinterest under the Loan is settled with the lender half yearly in arrears. For enquiries, please contact: Jonathan Wragg, Finance Director 0114 275 5100Rensburg Sheppards plc This information is provided by RNS The company news service from the London Stock Exchange