Roadside Real Estate plc announced an update on its intention to refinance its existing debt facilities. The Company is in the closing stages of completing the issue of £10 million principal amount of secured loan notes (the "Loan Notes"). The Loan Notes will attract a coupon of 14% for a period of 24 months and will be secured against the Company's assets and undertaking, including its shareholding in Cambridge Sleep Sciences ("CSS") as well as the assets and undertaking of CSS.

The Company will also agree to pay a bonus to subscribers of the Loan Notes which will allow them to participate in an exit option of the Company's CSS shareholding under preferential terms. A further announcement confirming completion of the refinancing is expected shortly, where full terms of the refinancing will be included.