REG - Sutton Harbour Grp - Loan Facilities and Related Party Transaction

Sutton HarbourAnnouncement

27/03/2023 13:00

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RNS Number : 3442U  Sutton Harbour Group PLC  27 March 2023

27 March 2023

Sutton Harbour Group PLC
("Sutton Harbour" or the "Company")

Loan Facilities and Related Party Transaction

The Company announces that, on 27 March 2023, it entered into an agreement
with Beinhaker Design Services Ltd ("BDSL") to extend the existing unsecured
loan finance with BDSL ("BDSL Loan), announced on 27 April 2022 and 16
December 2022, by £375,000, bringing the total loan facility from BDSL to
£1.805m. The BDSL Loan carries a fixed 8% gross annual interest rate with the
option, at the discretion of the Company, to roll up some or all of the
interest at a fixed 10% annual interest rate, and is repayable by 31 May 2024.

The terms of the £1.3m unsecured loan facility from Rotolok (Holdings)
Limited remain unchanged.

The BDSL Loan extension constitutes a related party transaction for the
purposes of the AIM Rules, as Beinhaker Design Services Ltd represents 50% of
the holdings of FB Investors LLP, which holds a 72.91% holding in the Company,
and is is controlled by the Beinhaker family. The directors, other than Philip
Beinhaker and Corey Beinhaker, having consulted with the Company's nominated
adviser, Strand Hanson, consider that the terms of the BDSL Loan extension are
fair and reasonable insofar as shareholders are concerned.

The Company also clarifies that, in relation to the sale of an apartment in
the Company's development under construction known as 'Harbour Arch Quay' to
Beinhaker Design Services Limited announced on 6 March 2023, exchange occurred
on 27 February 2023 supported by a fair and reasonable opinion on the
transaction terms.

For further information, please contact:

 Sutton Harbour Group plc                       +44 (0) 1752 204186

 Philip Beinhaker - Executive Chairman

 Corey Beinhaker - Chief Operating Officer

 Natasha Gadsdon - Finance Director
 Strand Hanson Ltd                              +44 (0) 20 7409 3494

 (Nominated and Financial Adviser and Broker)

 James Dance

 Richard Johnson

Notes to Editors

Sutton Harbour Group plc (SUH) is an AIM listed company specialising in marine
operations, waterfront regeneration and destination creation in Plymouth and
Southwest England.

The Company operates Sutton Harbour Marina, King Point Marina and Plymouth
Fisheries. Operational activities include mixed-use lettings, car parking and
support services to harbour users, property management and regeneration and
asset enhancement.

Sutton Harbour Group plc is committed to being the leading marine and
waterfront regeneration specialist in Southern England, and to positioning
Sutton Harbour in Plymouth as a destination of national interest.

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