LUD Ludorum

TIDMLUD

RNS Number : 0119A

Ludorum PLC

26 March 2012

26 March 2012

Ludorum plc (the "Company")

Related Party Transaction

The Company announces that it has redeemed, at par, GBP1.5m of loan notes, being all the loan notes that were in issue (the "Redeemed Loan Notes"). The Company has subsequently issued GBP2.75m of new loan notes (the "New Loan Notes").

The New Loan Notes are repayable in March 2017. If the Company redeems the New Loan Notes within the next two years the redemption will be GBP1.25 per GBP1 of loan notes. If the New Loan Notes are redeemed after two years they are redeemable at par. The coupon on the New Loan Notes is the higher of 7.5% or 3% above LIBOR for the next three years. After three years the coupon is 12.5%. The New Loan Notes are secured by a second charge over the Company's assets (and a charge over the assets of Ludorum Enterprises Limited, a wholly owned subsidiary of the Company).

GBP1.50m of the New Loan Notes are held by client funds of Downing LLP. GBP1.25m of the New Loan Notes are held by D C Thomson & Co Limited ("DCT"). DCT currently owns 19.86 per cent. of the Company's issued capital, making it a related party under the AIM Rules.

The Directors of the Company, having consulted with the Company's nominated adviser, Investec Bank plc, consider that the related party transaction is fair and reasonable, so far as the shareholders of the Company are concerned.

Enquiries:

   Ludorum plc                                  +44 (0) 20 8246 4010 

Malcolm Paget, Company Secretary

   Investec Bank plc (NOMAD)            +44 (0) 20 7597 5970 

David Flin

Andrew Pinder

This information is provided by RNS

The company news service from the London Stock Exchange

END

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