Update & Change of Adviser
March 13 2009 - 12:05PM
UK Regulatory
TIDMTTX
TURFTRAX PLC
(the "Company")
Update & Change of Adviser
Update
Further to the announcement made by the Company on 16 February 2009, the
Company has, subject to shareholder approval, (1) raised GBP120,000 by way of a
placing and (2) secured a conditional loan facility of up to GBP250,000 to
provide the Company with working capital to assist with the completion of
future transactions.
The Company will shortly post a circular to shareholders which will seek
shareholder consent for, inter alia:-
- a capital reorganisation to enable the above placing and loan facility to
occur;
- a proposed new investing strategy for the Company; and
- the disposal of the remaining trading activities of the Company.
The Company's shares will remain suspended from trading on AIM until such time
as the circular has been posted to shareholders.
Change of Adviser
Dowgate Capital Advisers Limited has been appointed Nominated Adviser with
immediate effect.
A further update will be made in due course.
Contact:-
TurfTrax plc
Adam Mills, Chairman
Tel: 01722 434 000
Nominated Adviser
Dowgate Capital Advisers Limited
Liam Murray/Aaron Smyth
Tel: 020 7492 4777
END
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