4 Feb 2010 10:13
Supporta plc (the "Company" or "Supporta")
04 February 2010
Repayment of banking facilities
On 27 January 2010, Mears Group plc announced its recommended offer for the entire issued and to be issued share capital of Supporta (the "Offer") had been declared unconditional.
In the announcement of the Offer released on 18 December 2009, Mears Group plc agreed to make £20 million available to Supporta in the event that the Offer was declared unconditional. Accordingly, on 27 January 2010 Mears granted a loan on an arms length basis of £20 million to Supporta which has been applied to repay the Company's indebtedness and to provide general working capital facilities.
Enquiries:
| Supporta plc | Tel: 01527 556 573 |
| John Jasper, Group Chief Executive |
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| Darren Xiberras, Group Finance Director |
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| Brewin Dolphin Investment Banking | Tel: 0845 213 4852 |
| Matt Davis |
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| Sean Wyndham-Quin |
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Mears (MER)