AIM Aim Investments

 

TIDMAIM 
 
RNS Number : 3240U 
AIM Investments PLC 
13 October 2010 
 

13 October 2010 
                              AIM Investments Plc 
                                (the "Company") 
                  Loan Facility from Desmond Holdings Limited 
 
Following the suspension of trading in the Company's shares on AIM on 4 May 2010 
under Rule 15 of the AIM Rules, the Company has until 4 November 2010 to 
substantially implement its Investing Policy to the satisfaction of the London 
Stock Exchange or carry out a reverse transaction under Rule 14 of the AIM 
Rules, failing which its admission to AIM will be cancelled. 
 
In order to help fund the implementation of its Investing Policy, the Company 
has secured a non-interest bearing loan facility of up to GBP500,000 from 
Desmond Holdings Ltd ("Desmond"), a Hong Kong-based investment company (the 
"Desmond Loan"). 
Under the Desmond Loan, the Company may only make drawdowns in order to enter 
into investment agreements with three companies introduced by Desmond as 
designated in the Desmond Loan agreement.  These investment agreements will be 
entered into should they comply with the Company's Investing Policy which is to 
provide funds to assist good quality and high growth companies achieve a listing 
for their shares on an appropriate stockmarket. The Company anticipates that 
should the relevant investment agreements be entered into it will make a profit 
in excess of GBP500,000 following the listings of the companies. 
The Company has agreed to pay Desmond a fee of GBP120,000 for providing the 
Desmond Loan and conditional upon the Company entering into investment 
agreements with the three designated companies, such fee to be satisfied by the 
issue of such number of new ordinary shares in the capital of the Company as 
shall equate to 29.99 per cent. of the Company's then issued share capital (the 
"Fee Shares").The issue of the Fee Shares is conditional on the lifting of the 
suspension of trading in the Company's shares.  In the event that the admission 
of the Company's shares is cancelled after monies have been drawn down against 
the Desmond Loan, the Desmond Loan will be repaid through the transfer of the 
benefit of those investments to Desmond. Amounts drawn down under the Desmond 
Loan are otherwise repayable within 12 months of the date of drawdown. 
For further information please contact: 
+---------------------+--------------------+-----------------+ 
| AIM Investments Plc | Alexandra Eavis    |   08702 701 111 | 
+---------------------+--------------------+-----------------+ 
| Astaire Securities  |  Gavin Burnell,    |   020 7492 4750 | 
| Plc (Nominated      |  Edward Hutton     |                 | 
| Adviser and Broker) |                    |                 | 
+---------------------+--------------------+-----------------+ 
www.aiminvestmentsplc.com 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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