MOP Mincorp

    RNS Number : 5486B
  Mincorp Plc
  18 August 2008
   

    Mincorp plc

    ("Mincorp" or the "Company")

    Debt Financing



    Mincorp announces that, on 23rd July 2008, the Company entered into an overdraft facility with BPI Bank Limited ("BPI"), a company
controlled by one of Mincorp's directors, Mr Noordin bin Abdullah.  

    This transaction was entered into in order to provide the Company with a temporary working capital facility whilst it considers its
strategic options.

    Under the terms of the overdraft facility, the Company can draw down up to �200,000, and which attracts an interest rate of 8.95 per
cent.  

    Part of the Company's 5.5 per cent investment in PT ATPK Resources Tbk ("ATPK"), a company listed on the Jakarta stock exchange, has
been provided as the security for this overdraft.

    With the exception of Mr Noordin bin Abdullah, the Board considers, having consulted with the Company's Nominated Adviser, Nabarro Wells
& Co. Limited, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

    Enquiries:

    Mincorp plc                Thanggaya Munusamy          +6012 212 4596

    Nabarro Wells & Co. Limited    Hugh Oram            +44 207 634 4705 

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