EURX » Topics » Long-Term Notes Payable to Shareholders

This excerpt taken from the EURX 6-K filed May 14, 2008.
Long-Term Notes Payable to Shareholders
 
In October 2006, Mr. Faherty (CEO) assigned to Warburg Pincus €449 in aggregate principal amount of the loan made by him to the Company, together with interest accrued thereon in the amount of €129, in consideration of full payment of his loan from Warburg Pincus, including all interest accrued thereon. As a result of this transaction, Mr. Faherty held a promissory note from the Company until it was repaid by the Company on May 29, 2007. Long term debt to our majority shareholder Warburg Pincus was fully repaid on the same date.
 
Long-term debt payable to shareholders, including accrued interest, consisted of the following:
 
                 
    December 31,
    December 31,
 
    2007     2006  
 
Warburg Pincus
          29,876  
Mr. Gearoid Faherty (CEO)
          229  
                 
            30,105  
                 
 
These notes were unsecured, carried cumulative interest at a fixed rate of 8% per annum and were repayable in a single installment in December 2010. Accrued interest payable to the CEO totaled €53 at December 31, 2006 and interest of €61 and €129 was paid during the years ended December 31, 2007 and 2006, respectively.
 
This excerpt taken from the EURX 20-F filed Mar 31, 2008.
Long-Term Notes Payable to Shareholders
 
In October 2006, Mr. Faherty (CEO) assigned to Warburg Pincus €449 in aggregate principal amount of the loan made by him to the Company, together with interest accrued thereon in the amount of €129, in consideration of full payment of his loan from Warburg Pincus, including all interest accrued thereon. As a result of this transaction, Mr. Faherty held a promissory note from the Company until it was repaid by the Company on May 29, 2007. Long term debt to our majority shareholder Warburg Pincus was fully repaid on the same date.
 
Long-term debt payable to shareholders, including accrued interest, consisted of the following:
 
                 
    December 31,
    December 31,
 
    2007     2006  
 
Warburg Pincus
          29,876  
Mr. Gearoid Faherty (CEO)
          229  
                 
            30,105  
                 
 
These notes were unsecured, carried cumulative interest at a fixed rate of 8% per annum and were repayable in a single installment in December 2010. Accrued interest payable to the CEO totaled €53 at December 31, 2006 and interest of €61 and €129 was paid during the years ended December 31, 2007 and 2006, respectively.
 

EXCERPTS ON THIS PAGE:

6-K
May 14, 2008
20-F
Mar 31, 2008
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