Interest rate loans (continued) £20 million Barclays Loan 2020 As part of the restructuring of the group`s long-term financing, IPT Property Holdings Limited (“IPTH”) has entered into a five-year, £20 million revolving credit facility (“RCF”) agreement with Barclays. Any sale of residential real estate would provide the company with additional means to pursue the additional acquisition opportunities, in accordance with the criteria indicated by the company. Upon the acquisition, the company`s pro forma loan is expected to be less than 35% in value less cash. Reasons for the Placement and the Open OfferThe Company is proceeding with the Offering and the Open Offer to finance the acquisition and, if necessary, provide sufficient resources to repay Barclays` loan. For the avoidance of doubt, an amount repaid or paid in advance by an undertaking under a Barclays loan agreement may not be re-insed from the undertaking concerned. The company`s current intention is for Barclays` loan to be maintained after the acquisition is completed. If the security trustaire is able to pay Barclays the amount of the deficit, it shall, by such payment, be paid to Barclays` rights in respect of the corresponding barclays loan agreement, and Barclays will immediately cease to participate in such Barclays loan agreement or rights against the relevant company in connection with or in connection with the Barclays loan agreement. . . .

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