Date: 26th March 2010 at 11:10pm
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It emerged on Wednesday that Lord Michael Ashcroft`s FordWat company have handed the Hornet`s another £1m loan.

The loan is once again secured against the club`s Vicarage Road Stadium, and the accumulated balance owed now is £5.99m.

Interest on the `Further loan` has been set at 4.5% above the base rate of Barclays Bank PLC.

In a statement from Watford Leisure PLC it was also confirmed that the share issue is still being ‘refined` and that a ‘statement will be made in due course`.

More debt – just what we wanted to hear?

FULL statement, click here