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Millwall Holdings plc
(the “Company”)

Facility Agreement

The Company has completed an amendment and restatement agreement (“Amendment Agreement”) to the original facility agreement with Chestnut Hill Ventures LLC (“CHV”) dated 2 March 2007 pursuant to which CHV agreed to provide an additional Facility B Loan to the Company of up to £3 million. The original loan, the Facility A Loan, which was for £5 million, is repayable on or before the third anniversary of funds being drawn down under it and the Facility B Loan which is for up to £3 million is repayable on or before the second anniversary of funds being drawn down under it.
The Facility B Loan will carry interest at the rate of 10 per cent per annum, is not convertible and contains a condition subsequent that the directors of the Company provide further loans of not less than £300,000 in aggregate to the Company by 2 May 2008. The Amendment Agreement updates the terms of the facility agreement entered into on 2 March 2007.
The Facility B Loan will be used for the Company’s working capital requirements.
John Berylson a director of the Company has a controlling interest in CHV and CHV is a substantial shareholder in the Company therefore the Amendment Agreement will be a related party transaction under the AIM Rules. The directors of the Company, other than John Berylson and Demos Kouvaris (both of whom are also directors of CHV), consider, having consulted with Seymour Pierce Limited, that the terms of the transaction are fair and reasonable insofar as shareholders of the Company are concerned.

Heather Rabbatts
Millwall Holdings plc Tel: 020 7232 1222

Millwall’s Executive Deputy Chairman Heather Rabbatts commented: “The Board is delighted that John has demonstrated his continued support both for the team and the company. No-one is under any illusion that we face a vital game against Gillingham at The Den on Saturday and there is still a difficult period to negotiate before the end of the season. However, what we now have at Millwall is much needed financial stability and leadership and this news is a timely boost for the manager, players, staff fans and shareholders alike. Going forward we are confident that the club is in very good hands and the Chairman is planning for a bright future both for the Football Club and the Company”

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Last modified: 08-11-16