Related Party Transaction
04 Gennaio 2010 - 3:26PM
UK Regulatory
TIDMTIL
Tembusu Investments Limited
('Tembusu' or the 'Company')
Related Party Transaction
4 January 2010
Tembusu hereby announces that it has opened a bank account with Banque Havilland
S.A. (the "Banque Havilland Account"). Banque Havilland S.A. will become the
Company's sole banker with immediate effect.
As such, Banque Havilland S.A. will hold Tembusu's cash and equity assets in
their entirety. As at 30 June 2009, being the date of the Company's most
recently notified consolidated statement of financial position, Tembusu had cash
balances of GBP1,123,459 and quoted equity investments of GBP547,897 as of that same
date.
Jonathan Rowland, Tembusu's chairman, is also joint CEO of Banque Havilland S.A.
- a company which is wholly-owned by The Rowland family. As such the opening of
the Banque Havilland Account is a related party transaction, as defined by the
AIM Rules for Companies.
Tembusu's directors (other than Jonathan Rowland), having consulted with
Blomfield Corporate Finance Limited, consider that the terms of the Bank
Havilland Account are fair and reasonable insofar as Tembusu's shareholders
are concerned.
For further information, contact:
Tembusu Investments Limited
Jonathan Rowland, Chairman Tel: + 44 (0)20 7087 7970
Blomfield Corporate Finance Ltd Tel: + 44 (0)20 7444 0800
Ben Jeynes
Alan MacKenzie
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