Loan & Debt11 Jun 2026, 07:01 pm
S.P. Apparels enters GBP 4M loan agreement with UK subsidiary
AI Summary
S.P. Apparels Ltd has executed a Loan Agreement with its wholly-owned subsidiary, S.P. Apparels (UK) (P) Limited. The agreement provides an unsecured loan facility of up to GBP 4,000,000 to the UK subsidiary, exclusively for its business and operations. The loan is payable on demand or within 3 years, whichever is earlier, and accrues interest at 9% per annum with annual rests. The transaction, executed on June 11, 2026, is classified as a related party transaction but is confirmed to be at arm's length.
Key Highlights
- S.P. Apparels provides GBP 4M unsecured loan to its UK subsidiary.
- Loan is for the subsidiary's business and operational funding.
- Interest rate set at 9% per annum, payable with annual rests.
- Loan is repayable on demand or within 3 years, whichever is earlier.
- Transaction is a related party deal, confirmed to be at arm's length.
Price Impact
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