SKYA Skya.Assd.Cash

    Embargoed: 0700hrs, 25 May 2006

                           Sky Capital Holdings, Ltd                           

                   ("Sky Capital Holdings" or the "Company")                   

                    New �2,000,000 Working Capital Facility                    

Sky Capital Holdings announces that it has entered into a secured, revolving
credit facility of up to �2 million pounds (the "Facility") with Sky Capital
Enterprises, Inc (the "Lender") for the purposes of general working capital.

Under the terms of the Facility Sky Capital Holdings may draw down funds at its
discretion. Amounts outstanding under the Facility are secured by a floating
charge over the assets of the Company. Interest is payable on all amounts
outstanding under the Facility at the rate of 250 basis points over the Bank of
America base rate from time to time and interest payable may be rolled up with
consent of the Lender. In consideration for the arrangement of the Facility Sky
Capital Holdings has granted the Lender warrants ("Warrants") to subscribe for
one common share in the Company per �5 of the capital and interest drawn on the
Facility at an exercise price of 60 pence per common share. The warrants have a
term of 5 years from the date of grant.

The entry into the Facility by the Company constitutes a transaction with a
related party as a result of Ross Mandell, a director of the Company, being a
substantial shareholder of the Lender. With the exception of Ross Mandell
(being a director involved in the transaction as a related party) the directors
of Sky Capital Holdings consider, having consulted with Grant Thornton, the
Company's Nominated Adviser, that the terms of the Facility are fair and
reasonable insofar as the shareholders of the Company are concerned.

For further information please contact,

Ross Mandell

Sky Capital Holdings Ltd.

Tel. 001 212 709 1900

Adam Reynolds or Ben Simons

Hansard Communications

Tel. 0044 207 245 1100



END

Skya.Assd.Cash (LSE:SKYA)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024

Skya.Assd.Cash (LSE:SKYA)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024