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RNS Number : 2253B

Snacktime PLC

02 April 2013

SnackTime plc ("SnackTime" or the "Company")

2 April 2013

Update on banking and fundraising

In its announcement on 15 February 2013, SnackTime announced that it was in discussions with its bank regarding extending the term of its loan and to revise its banking covenants which it expected to conclude before the end of March 2013. In addition, it announced that it was in discussions with certain of its larger shareholders regarding the proposed issue of GBP800k of 5 year convertible loan notes to provide funds for the Company, the terms of which were still to be finalised.

Further to the announcement above, the Company announces today that it is in receipt of a new banking facility offer including revised covenants and is very close to agreeing its terms. The Company is also finalising the issue of loan notes to raise GBP1.0 million. A further announcement setting out full details of the new facility and issue of loan notes will be made shortly.

For further information:

SnackTime PLC

Jeremy Hamer, Chairman

   Tim James, Finance Director       0208 879 8300 

Westhouse Securities

   Tom Griffiths                                     020 7601 6100 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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