Additionally, the AIM-listed company said negotiations, in respect of converting Strategic & Precious Metals' existing mezzanine loans into an interest free shareholder loan
or equity, are ongoing and it is expected that final terms will be agreed and the conversion to happen prior to the conclusion of the current round of Strategic & Precious Metals debt funding.
According to the company, part of the net proceeds will be used to provide a shareholder loan
to DDM Debt AB (DDM Debt), which qualifies as equity under the current DDM Debt senior secured bond terms.
The board also declared cash dividend at Re1 per share and the company also authorised the board to invest in and provide sponsor support to Fauji Foods Ltd for a sum not exceeding Rs3bn through either or a combination of a subordinated shareholder loan
or collateral support for a maximum one year.
The loan will take the form of an interest bearing unsecured subordinated shareholder loan
with no fixed maturity, said the statement.
The existence of collateral or security is a strong indication that a shareholder loan
is intended, and a lack of collateral or security indicates that the transaction was not a loan.
Part of the cash raised will be used to repay a shareholder loan
- believed to be a sum of PS5m to PS10m from Sir Stelios.
"The shareholder loan
is intended to be a back-up facility arrangement and it is currently expected that it will only be utilized by the borrower in the unlikely event that the senior notes offering consisting of P15 billion 5-percent senior notes due 2019 priced on Dec.
MIGA's investment guarantees of $2 million cover equity and shareholder loan
investments by Traitex International S.A.
The company initially bought a 50.5% stake in August 2010 for USD 175mn (plus a USD 400mn shareholder loan
The investment by councils alongside the new private sector investor in the airport is a long-term shareholder loan
facility which replaces short-term bank finance.
Everything Everywhere plans to use the facilities to refinance part of the GBP1.25bn shareholder loan
provided by its two founding companies when the business was established.
Funding for this A$4.5m payment was through the Company's internal resource and a A$3.5m loan from major shareholder ("Shareholder Loan
"), the Shandong Taishan Sunlight Group Company Limited ("Shandong Group").