Ashley House plc (“Ashley House” or the “Company”), the health and community care property partner, is pleased to advise that it has today signed a new loan facility (the “Facility”) of £200,000 being part of its continuing programme of refinancing of the Company’s debt facilities.
Following the completion of the Walton on the Naze Extra Care scheme, the security supporting the loan from Invescare has changed resulting in a requirement to repay £645,000 of that facility. This is being made out of internal cash reserves supported by this loan.
The Facility is being provided to the Company by Maureen Moy, spouse of Non-executive Director, John Moy. It is available for an initial four month period and is secured against individual assets of the Company.
Accordingly, the Facility is a Related Party Transaction pursuant to AIM Rule 13. Ashley House confirms that its directors, acting without John Moy’s participation and having consulted with the Company’s Nominated Adviser, consider that the terms of the transaction are fair and reasonable in so far as the Company’s shareholders are concerned.
Ashley House plc 01628 600 340
WH Ireland Ltd 0207 220 1666
(Nominated Adviser and broker to Ashley House plc)