Command Technology Group Plc
LSE : CDTP

August 28, 2009 09:47 ET

Loan Note Agreement with Schoot UK Ltd

                                                         

                                                         
                                                                                                    28 August 2009
                                                                                                                  
                                                                                                                  
                                           COMMAND TECHNOLOGY GROUP PLC
                                       ("Command Technology", "the Company")

                                      Loan Note Agreement with Schoot UK Ltd
                                                         

On 23 June 2009, Command Technology announced that it has signed a Convertible Loan Note and associated Deed of
Variation with Schoot Limited (the 'Noteholder'). Schoot Limited is registered in the UK and owned and controlled
by the Murray Family Trust 2009. The trustees are Sean Murray, Karen Murray and Nick Thompson.

Command Technology has been notified by Schoot Limited that Schoot no longer wish to proceed with the agreement
and as such are not willing to provide funds due under it. The Directors of Command Technology are in the process
of negotiating a settlement with Schoot. The company will update the market on the outcome of the negotiations as
soon as practically possible.

The directors of the Company accept responsibility for this announcement.


                                                     --ENDS--
Enquiries:

Command Technology Group Plc
Mick Gossage CEO
mick@commandtechnologygroup.com                  Tel: +44 (0)13 7286 9855

Rivington Street Corporate Finance               Tel: +44 (0)20 7562 3389
Monisha Varadan                         Eran Zucker
Monisha@rs-cf.com                       Eran@rs-cf.com

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  • Command Technology Group Plc