Issue of Loan Stock
February 27 2008 - 9:58AM
UK Regulatory
RNS Number:8844O
Croma Group PLC
27 February 2008
CROMA GROUP PLC ("CROMA" OR "THE GROUP")
ISSUE OF 10% CONVERTIBLE LOAN STOCK
The Board of Croma, the AIM listed surveillance security and homeland defence
specialist, announce that they have today entered into a 10% loan stock
agreement ('Loan Stock') to raise �200,000. The Loan Stock is convertible into
Croma ordinary shares at a price of 5p per share at any time until February
2013. The net proceeds of the Loan Stock will be used for working capital
purposes as the Company seeks to support recent business gains.
Sebastian Morley, Chief Executive, commented "it is pleasing that we have now
been able to raise, in aggregate, �420,000 through three tranches of loan notes
and I believe that this provides more than sufficient working capital for the
Group going forward. With a strengthened balance sheet, we can firmly focus on
maximising the opportunities available across our three trading divisions."
Enquiries:
Croma Group plc
Sebastian Morley, Chief Executive 07768 006 909
Seymour Pierce Limited
Mark Percy / Jeremy Garrett-Cox 020 7107 8000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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