MRM Metrodome Grp.

TIDMMRM

RNS Number : 1726W

Metrodome Group PLC

23 January 2013

Metrodome Group Plc

("Metrodome" or the "Group")

23 January 2013

Loan Agreement Related Party

The Company announces that it has entered into a secured loan agreement with Metrodome BV, a 7.13% shareholder of the Company which is ultimately controlled by the same entity which owns a majority investment of Alerria Management Company SA, a 34.7% shareholder of the Company.

The amount of the loan is GBP750,000 which shall be used to supplement working capital requirements and to continue seeking out opportunities to strengthen the Group's current operations through content acquisitions.

Interest shall accrue on the Loan on a daily basis at the rate of 4.5% per annum above the Bank of England's base rate for the time being and shall be paid by the Group quarterly in arrears. The loan ranks behind existing banking facilities and is secured on the assets of the company.

The loan may be considered to be a related party transaction for the purposes of AIM Rule 13, and accordingly, the Directors, confirm that, having consulted with Charles Stanley Securities, the Company's nominated adviser, they consider the terms of the transaction to be fair and reasonable insofar as the Company's shareholders are concerned.

We are still working to understand the potential loss we may incur following the administration of HMV and Blockbuster. We hope to update shareholders with detailed information within the next 6-8 weeks. The loan will enable the company to withstand the financial impact of HMV. Blockbuster will not have a significant impact.

 
 
 
   Metrodome Group plc 
 Mark Webster                 Tel: 020 7535 7300 
 
 Charles Stanley Securities 
 Dugald J. Carlean /          Tel: 020 7149 6000 
  Karri Vuori 
 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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