Issue of Equity and Equity Drawdown Facility
May 26 2010 - 3:38AM
UK Regulatory
TIDMEFD
RNS Number : 5579M
Eatonfield Group plc
26 May 2010
Eatonfield Group plc
26 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 25 May 2010, the Company drew down
GBP77,650 against its previously notified equity drawdown facility ("the
Facility") with Jenard Properties Limited ("Jenard"), to be satisfied by the
issue of 7,765,000 new ordinary shares of 1 penny each ("Ordinary Shares") at a
price of 1 penny per Ordinary Share. The GBP77,650 drawn down under the Facility
will be used for working capital funding.
Following this drawdown, GBP572,350 remains available under the Facility for
draw down at any time until 31 August 2010. As previously notified, draw down of
the remaining funds available is subject to Eatonfield's shareholders approving
the resolutions to be proposed at a general meeting of the Company convened for
28 May 2010, further details of which are set out in a circular to shareholders
dated 12 May 2010. 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 7,765,000 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 2 June
2010.
On admission of the 7,765,000 new Ordinary Shares referred to above, the Company
will have 299,999,775 Ordinary Shares in issue with voting rights and Jenard's
notifiable interest will be in 67,765,000 Ordinary Shares, representing 22.59%
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
IOELIFVTERIRFII
Eatonfield (LSE:EFD)
Historical Stock Chart
From May 2024 to Jun 2024
Eatonfield (LSE:EFD)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Eatonfield (London Stock Exchange): 0 recent articles
More Eatonfield News Articles