HRD Hardy Amies

RNS Number:6260Y
Hardy Amies PLC
19 June 2007


Hardy Amies plc ("Hardy Amies" or the "Company")

19 June 2007


Related Party Loan


Hardy Amies announces that it has secured a loan of #2,853,000 from Arev Brands
Limited ("ABL"), a substantial shareholder.  The loan will be used to fund
working capital, as well as to provide funds for Hardy Amies' planned store
rollout.  The loan is intended to enable the Company to fund its expansion
programme over the next two and a half years.  Depending upon the rate of growth
of the Company and the cost and pace of the store rollout programme, use of the
proceeds of this loan may be sufficient to allow the Company to achieve a
profitable trading position.  As a consequence, the Company may not require any
further equity funding over the next two and a half years.


The loan bears interest at 10% above the base rate for the time being of
Barclays Bank Plc and is secured by a fixed and floating charge over the entire
assets of the company. The loan will be repayable six months from the date of
demand by ABL.  Hardy Amies may itself repay the loan by giving at least five
business days notice to ABL. In the event of any default by Hardy Amies,
comprising a failure to pay any sums due under the loan, a cessation or threat
of cessation of its business or any of the usual insolvency conditions, the loan
will become immediately repayable together with accrued interest.


After having consulted with its nominated adviser, Shore Capital & Corporate
Limited, the independent directors of Hardy Amies, being Nigel Brunning, Peter
Phillips and Chiaki Kawasaki, consider that the terms of the transaction are
fair and reasonable insofar as its shareholders are concerned.


Further information concerning the current trading and prospects of the Company
will be contained in the annual results for the financial period to 31 December
2006, which Hardy Amies intends to publish on or before 29 June 2007.


Enquiries:


Hardy Amies Plc

Nigel Brunning, Chief Executive                       020 7734 2436


Shore Capital & Corporate Limited

Guy Peters                                            020 7408 4090


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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