New Bank Facility

28 Aug 2007 09:46

Catalyst Media Group PLC28 August 2007 Catalyst Media Group plc ("Catalyst" or the "Company") New Bank Facility The Board of Catalyst is pleased to announce that on 24 August 2007, it enteredinto an agreement for a new £4.835 million loan facility ("Facility") out ofwhich it has drawn down £3.91 million provided by National Westminster Bank plc("NatWest"). The funds drawn down under the Facility have been applied to the repayment infull of the existing debt that the Company had in place with Investec Bank (UK)Limited ("Investec") including an early redemption premium. As a consequence, under the terms of the facility with Investec, Investec is nolonger entitled to exercise its warrant in respect of the Company's wholly ownedsubsidiary, Catalyst Media Holdings Limited ("CMHL"). The Facility is repayable on or by 31 December 2010 and is secured against theassets of CMHL and Alternateport Limited, a wholly owned subsidiary of CMHL. The existing £4 million facility (of which £3.5 million has been drawn down)provided by North Atlantic Smaller Companies Investment Trust PLC ("NASCIT") andOryx International Growth Fund Limited, details of which were announced on 10April 2007, has now been amalgamated into NASCIT only and they have taken asecond security position to NatWest. Following these transactions the total debt outstanding for the CMG Group willbe approximately £7.5 million. Enquiries: Catalyst Media Group plcMichael Rosenberg/Anna PrestwichTel: 020 7927 6699 Strand Partners LimitedJames Harris/Angela PeaceTel: 020 7409 3494 This information is provided by RNS The company news service from the London Stock Exchange