Pursuant to a loan agreement between SCZ and SCDT, SCZ has lent the proceeds of the placing to SCDT.
The objective of SCZ is to provide the final capital entitlement of the ZDP shares to the holders of the ZDP shares at the redemption date of 8 January 2018.
In addition, it has a wholly owned subsidiary SCZ, through which Zero Dividend Preference shares have been issued.
The SCZ ordinary shares are wholly owned by the Company.
Lord Lamont was appointed to the Board of SCZ on 27 July 2012 and has been a director of the parent company, SCDT since 2006.
Mr Harris was appointed to the Board of SCZ on 27 July 2012 and has been a director of the parent company, SCDT since 2000.
50,000in issue (partly paid up as to 25p each) The SCZ
investment objective & policy The objective of SCZ
April 2014 comprise the Company and its subsidiary, SCZ
General information SCZ
is a company incorporated and registered
Preference shares in SCZ
was used to repay all outstanding bank debt.
is not anticipated to provide a guarantee on the outstanding SUS securities.