Completion of Banking Facilities


 

TIDMMSQ 
 
RNS Number : 2970Q 
Media Square PLC 
30 July 2010 
 

Media Square plc (the "Group" or "MSQ") 
 
COMPLETION OF BANKING FACILITIES AGREEMENT 
 
Media Square plc (AIM: MSQ), the International Marketing Communication Group, is 
pleased to announce that following its Annual General Meeting on the 27 July 
2010, it has now satisfied all of the conditions relating to its new banking 
facilities agreement with Bank of Scotland plc (part of Lloyds Banking Group 
('LBG')), the entry into which was previously announced on 21 June 2010. 
 
As a result, the new facility became effective on the 30th July and will run 
until 30 July 2013.  Pursuant to this agreement, MSQ has granted LBG warrants 
over 10% of Media Square's fully diluted issued Shares with an exercise price of 
10 pence. The exact number of warrants that will be issued will be calculated on 
the date of their exercise, with regard to the Company's fully diluted share 
capital at the time. 
 
The Company has also entered into new interest rate hedging arrangements over 
GBP15m for the duration of the facility with rates fixed at 2.00% to 30 April 
2011, 3.55% from 1 May 2011 to 30 April 2012 and 4.68% from 1 May 2012 to 31 
July 2013. These rates include the costs of the early cancellation of the 
existing GBP18.75m interest rate hedge at 4.78% which originally ran to April 
2011. 
 
Please see the announcement of the 21st June 2010 for further details of the 
facility. 
 
For further information please contact: 
 
+----------------------------+-------------------------------------+ 
| Media Square plc           | www.mediasquare.co.uk               | 
+----------------------------+-------------------------------------+ 
| Roger Parry                | 020 3026 6601                       | 
+----------------------------+-------------------------------------+ 
| Peter Reid                 | 020 3026 6607                       | 
+----------------------------+-------------------------------------+ 
|                            |                                     | 
+----------------------------+-------------------------------------+ 
| Collins Stewart Europe     |                                     | 
| Limited                    |                                     | 
+----------------------------+-------------------------------------+ 
| Adrian Hadden/Stewart      | 020 7523 8350                       | 
| Wallace                    |                                     | 
+----------------------------+-------------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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