04 June 2025
Dillistone Group Plc
("Dillistone", the "Company" or the "Group")
Related party loan
The Group is pleased to announce that it has agreed to raise a further GBP120,000 pursuant to a loan agreement ("Loan", "Loan Agreement", "Fundraising").
The Board considers the Fundraising to be a prudent course of action in case the Group's markets continue to be challenging for an extended period. The proceeds from the Loan will therefore be used to provide the Group with additional working capital.
The Loan Agreement, which will be drawn down fully when required by the Company, will be provided by Yuriko Starr, the wife of the Group CEO.
The Loan is unsecured and ranks behind the Company's other existing debt in terms of capital repayments. The Loan carries an interest coupon of 10.85 percent pa over the term of 48 months. Interest will be payable quarterly in arrears and will be satisfied in cash. Capital and interest may be paid in full or in part at the discretion of the Company at any time during the term of the loan.
The issue of the Loan Agreement constitutes a related party transaction under AIM Rule 13. The independent Directors of the Company, having consulted with Zeus Capital Limited, the Company's nominated adviser, consider that the terms of the Loan Agreement are fair and reasonable insofar as Dillistone shareholders are concerned.
Enquiries:
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Dillistone Group Plc |
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Giles Fearnley |
Chairman |
01256 297 000 |
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Jason Starr |
Chief Executive Officer |
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Ian Mackin |
Finance Director |
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Zeus (Nominated adviser and Broker) |
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Mike Coe |
Director, Investment Banking |
020 3829 5000 |
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This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Notes to Editors:
Dillistone Group Plc is a leader in the supply and support of software and services to the recruitment industry. Dillistone operates through the Ikiru People (www.IkiruPeople.com) brand.
The Group develops, markets and supports the Talentis, FileFinder, Infinity, Mid-Office, ISV and GatedTalent products.
Dillistone was admitted to AIM, a market operated by the London Stock Exchange plc, in June 2006.
Learn about our products:
Talentis Software: https://www.talentis.global/recruitment-software/
Voyager Software: https://www.voyagersoftware.com
Online Timesheets: https://www.voyagersoftware.com/online-timesheets/
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