Placing

RNS Number:9918Y
Ashton Penney Holdings PLC
25 June 2007


For Immediate Release                                              25 June 2007




                           Ashton Penney Holdings PLC
                       (the 'Company' or 'Ashton Penney')
                                        
    Placing to raise #410,000 in cash and convert #153,000 of debt to equity


Ashton Penney Holdings plc (AIM:ASHT), the specialist Interim management
provider, announces that it has conditionally  raised #410,000 (before expenses)
by way of a placing of 16,400,000 new ordinary shares of 1p each at 2.5p per
share  (the 'Placing Price') with existing and new investors (the 'Placing'). 
In addition, the Company has come to an  agreement with certain directors and
creditors to convert #153,000 of debt to equity by the issue of 6,120,000 new 
ordinary shares of 1p at the Placing Price.  In total these shares are referred
to as (the 'New Shares')

The net proceeds of the Placing will be used by the Company to:

*  Strengthen the Company's balance sheet;

*  For general working capital purposes; and

*  To grow the Company's business.

Directors of the Company have agreed to subscribe for shares in the Placing 
and in satisfaction of amounts owing to  them in each case at the Placing Price 
as follows:


               Shares issued for cash  Shares issued in respect of amounts owing

               Amount      Shares      Amount           Shares
                #                
Colin Maitland  100,000    4,000,000   35,400           1,416,000
                                       (loans)
James Wheeler         -            -   17,700             708,000
                                       (loans)
Graham Cole      10,000      400,000   29,500           1,180,000
                                       (loans)
Bruce Page            -            -   10,000             400,000
                                       (remuneration)



The Company has arranged for a further subscription of #50,000 and for further
debts of #60,400 to be satisfied by the  issue of shares at the Placing Price.

In addition, 10,000,000 shares representing 44.4% of the New Shares have been
placed with other investors by Ellis &  Company Limited at the Placing Price.

The Placing Price represents a discount of 33.33 per cent. to the mid-market
closing price of 3.75p on 22 June 2007.

Application will be made to the London Stock Exchange for the 22,520,000 New
Shares to be admitted to trading on AIM  ('Admission') and it is expected that
Admission will become effective and that dealings in the Placing Shares will 
commence at 8.00 a.m. on Friday, 29 June 2007.

The Placing is conditional, inter alia, upon Admission. The New Shares will,
when issued and fully paid, rank pari passu in all respects with the existing
ordinary shares of the Company.

Since the Directors will be issued with a total of 8,104,000 New Shares,
representing 22.8 per cent. of the Company's  existing issued share capital,
this issue is a Related Party Transaction under AIM Rule 13. The Directors, all
of whom  are receiving shares under the issue, have consulted the Company's
Nominated Adviser, who considers that the terms of  the transaction are fair and
reasonable insofar as the Company's shareholders are concerned.

Following completion of the Placing, Ashton Penney will have 58,126,130 ordinary
shares in issue.

Bruce Page, Chief Executive Officer of Ashton Penney said: "We are pleased with
the continued support of our major  shareholder and for the Placing that widens
our current shareholder base.  The additional funding will strengthen the 
balance sheet and give the business the necessary resources to continue its
strategy of growth."



For further information please contact:

Bruce Page, Ashton Penney Holdings PLC on              020 7337 6900

Roland Cornish, Beaumont Cornish Limited on            020 7628 3396





                      This information is provided by RNS
            The company news service from the London Stock Exchange

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