Last checked at 11 May 2009 12:40
Thalassa Holdings Ltd
Loan to the Company
The Company has entered into a loan agreement with Duncan Soukup, a director of the Company. The principal terms of the loan are set out below:-
Principal: US$798,680 (circa £530,100)
Interest rate: 10 per cent. per annum
Term: 1 year
The loan is secured on certain investment assets held by the Company.
The purpose of the loan is to provide additional investment capital to the Company.
The loan from Mr Soukup is a related party transaction pursuant to AIM Rule 13. The directors of the Company, with the exception of Mr Soukup consider, having consulted with Dowgate Capital Advisers Limited, the Company's Nominated Adviser, that the terms of the loan are fair and reasonable insofar as the Company's shareholders are concerned.
| Duncan Soukup Chris Langrick | Thalassa Holdings Ltd | T: +33 678 632 689 T: +33 643 917 391 |
| Liam Murray Aaron Smyth | Dowgate Capital Advisers Limited | T: +44 20 7492 4777 |