Issue of Equity and Equity Drawdown Facility
May 07 2010 - 10:33AM
UK Regulatory
TIDMEFD
RNS Number : 5632L
Eatonfield Group plc
07 May 2010
Eatonfield Group plc
7 May 2010
Eatonfield Group plc
("Eatonfield", "the Group" or "the Company")
Issue of Equity and Equity Drawdown Facility
The board of Eatonfield announces that on 6 May 2010, the Company drew down
GBP150,000 against its previously notified equity drawdown facility ("the
Facility") with Jenard Properties Limited ("Jenard"), to be satisfied by the
issue of 15,000,000 new ordinary shares of 1 penny each ("Ordinary Shares") at a
price of 1 penny per Ordinary Share. The GBP150,000 drawn down under the
Facility will be used for working capital funding.
Following this drawdown, GBP650,000 remains available under the Facility for
draw down at any time until 31 August 2010. As previously notified, the board
anticipates that the remaining funds available, if drawn down in full, will
provide Eatonfield with sufficient working capital through to mid July 2010. The
board continues to seek further equity funding and has confidence that
additional equity funding will be made available to the Group and will provide
an update at the appropriate time.
Application will be made for the admission of the 15,000,000 new Ordinary Shares
referred to above to trading on AIM. It is expected that admission will become
effective and that dealings will commence in the new Ordinary Shares on 13 May
2010.
On admission of the 15,000,000 new Ordinary Shares referred to above, the
Company will have 292,234,775 Ordinary Shares in issue with voting rights and
Jenard's notifiable interest will be in 60,000,000 Ordinary Shares, representing
20.53% of the Company's enlarged issued share capital.
For further information please contact:
+-------------------------------------+------------------------------+
| Eatonfield Group plc | Tel: +44 (0)1829 261 910 |
| | |
+-------------------------------------+------------------------------+
| Paul Williams (Executive Chairman) | |
+-------------------------------------+------------------------------+
| Rob Lloyd (Group Chief Executive) | |
| | |
+-------------------------------------+------------------------------+
+-------------------------------------+------------------------------+
| Evolution Securities Limited | Tel: +44 (0)113 243 1619 |
| | |
+-------------------------------------+------------------------------+
| Joanne Lake/Peter Steel | |
+-------------------------------------+------------------------------+
+-------------------------------------+------------------------------+
| Orbis Equity Partners Limited | Tel: +44 (0)203 137 1904 |
| | |
+-------------------------------------+------------------------------+
| Jeremy King | |
+-------------------------------------+------------------------------+
+-------------------------------------+------------------------------+
| Threadneedle Communications | Tel: +44 (0)207 653 9850 |
| | |
+-------------------------------------+------------------------------+
| Graham Herring/John Coles | |
+-------------------------------------+------------------------------+
End
This information is provided by RNS
The company news service from the London Stock Exchange
END
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