PLW Playwize

 

TIDMPLW 
 
RNS Number : 3283C 
Playwize PLC 
11 November 2009 
 

11 November 2009 
Playwize plc 
 
 
("Playwize" or the "Company") 
 
 
Provision of Unsecured Loan 
 
 
The Company announces that on 9 November 2009 Headstart Global Aggressive Fund 
Limited and Headstart Global Fund Limited (the "Headstart Funds") agreed to 
advance an unsecured, interest-free loan of GBP37,300 to the Company (the "Loan 
Facility"). 
 
 
The Loan Facility is to be drawn down by the Company in two instalments as 
follows: (i) the first instalment of GBP22,300 will be drawn down by the Company 
with immediate effect; and (ii) the second instalment of GBP15,000 will be drawn 
down by the Company 30 days from the date of the loan agreement. The Loan 
Facility is repayable by the Company by no later than 31 January 2010. The funds 
drawn down by the Company under the Loan Facility shall be used by the Company 
to undertake due diligence into acquisition targets in line with its investment 
strategy. 
 
 
In addition, in the event that Playwize undertakes an acquisition in line with 
its investment strategy, the Board of Playwize has agreed to issue the Headstart 
Funds with warrants over a total of 2% of the enlarged issued share capital of 
the Company on completion of such an acquisition. The terms of the warrants 
shall be subject to a separate warrant instrument to be entered into between the 
Company and the Headstart Funds. 
 
 
For further information: 
 
 
+---------------------------------------+--------------------------------------+ 
| Playwize plc                          | Tel: +972 54 4602 253                | 
+---------------------------------------+--------------------------------------+ 
| John Corre, Chairman                  |                                      | 
+---------------------------------------+--------------------------------------+ 
|                                       |                                      | 
+---------------------------------------+--------------------------------------+ 
| Allenby Capital Limited               | Tel: +44 (0)20 3328 5656             | 
+---------------------------------------+--------------------------------------+ 
| Nick Athanas/James Reeve              |                                      | 
+---------------------------------------+--------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCKFLBFKFBBFBQ 
 

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