Working Capital Funding Update (2330Y)
December 20 2010 - 2:00AM
UK Regulatory
TIDMEFD
RNS Number : 2330Y
Eatonfield Group plc
20 December 2010
20 December 2010
Eatonfield Group plc
("Eatonfield" or "the Group")
Working capital funding update
On 16 November 2010, the board of Eatonfield announced that the
Group had sufficient working capital funding through to mid
December 2010. Eatonfield continues to defer payment of amounts due
to certain of its senior lenders and trade creditors to a later
date. On the basis that the relevant lenders and trade creditors do
not demand payment in the short-term and that Eatonfield continues
to receive their support, the board now expects that the Company's
existing financial resources will provide it with sufficient
working capital funding until late January 2011.
The board confirms that the previously notified discussions with
the Group's lenders are ongoing as at the date of this
announcement, as are discussions regarding the disposal of certain
of its land asset and plans for a further equity raise. The board
also confirms that all of the Group's existing bank facilities
remain available at the date of this announcement.
For further information please contact:
Eatonfield Group plc Tel: +44 (0)1829 261 910
Brian Corfe (Executive Chairman)
Rob Lloyd (Group Chief Executive)
Duncan Syers (Group Finance Director)
Evolution Securities Limited Tel: +44 (0)113 243 1619
Joanne Lake/Peter Steel
Optiva Securities 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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