Source - LSE Regulatory
RNS Number : 3313Z
20 May 2021


20 May 2021


 ("CEPS" or the "Company")


Third party loan and related party transaction  


The Board of CEPS announces that on 20 May 2021 it entered into a loan agreement ("Loan Agreement") with a third party for £2,000,000 ("Loan"). On drawdown, which is anticipated to be on or around 28 June 2021, the Loan will be used to repay an existing £2,000,000 loan ("Existing Loan") from another third party which falls due for repayment on 30 June 2021. The Existing Loan was originally due for repayment on 31 October 2020, as announced to the market on 7 October 2019, but this date was later extended to 30 June 2021.


The Loan carries interest at an annual rate of 7 per cent accruing daily and payable in arrears on 31 March, 30 June, 30 September and 31 December.  The Loan is repayable on or before 30 June 2022.


CEPS' obligations in respect of the Loan have been guaranteed by Mr David Horner, a director of the Company. Given that David Horner is a director of the Company, the provision of the guarantee is considered to be a related party transaction pursuant to AIM Rule 13.  The directors of the Company who are considered independent for the purposes of the Loan Agreement, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, consider the guarantee of the Loan by David Horner to be fair and reasonable insofar as the Company's shareholders are concerned. 


This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).


The Directors of the Company accept responsibility for the content of this announcement.





Vivien Langford, Group Finance Director


+44 1225 483030


Cairn Financial Advisers LLP

James Caithie / Sandy Jamieson /

Ludovico Lazzaretti


+44 20 7213 0880



Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts


0p (0.00%)
delayed 06:50AM