Eatonfield Share Discussion Threads

[safman] 16/9/2010 15:36

No i think not. They will reorganize the capital to either say 0.1p or 0.5p imo...

Fundraising will not be at 1p.

[topinfo] 16/9/2010 15:34

Gone 3 vs 1 Tara.

[tara7] 16/9/2010 15:28

GREAT news not going bust and any new cash will in my view be at least 1p per share, could be way higher or the directors will lose out.!!

[standtall] 16/9/2010 15:22

DJ Eatonfield Group plc Working Capital Funding

TIDMEFD

RNS Number : 8388S

Eatonfield Group plc

16 September 2010

?

16 September 2010

Eatonfield Group plc

("Eatonfield" or "the Group")

Working capital funding

On 24 June 2010, the board of Eatonfield announced that the Group had sufficient working capital funding through to mid-September 2010. The board now expects the Group's existing financial resources will provide it with sufficient working capital funding until mid-October 2010.

Whilst certain of the Group's banking facilities are due for renewal on 30 September 2010, the board remains in discussions with the Group's banking partners to obtain an extension to these facilities. The board is also seeking to raise additional equity funding which, due to Eatonfield's current share price being below the nominal value of one penny per ordinary share, will require a capital reorganisation. A circular convening a general meeting to consider the capital reorganisation will be sent to shareholders in due course.

The board is also progressing a range of strategic options to secure the Group's longer term future and further updates will be provided at the appropriate time.

For further information please contact:

+------------+---------+
| Eatonfield | Tel: |
| Group plc | +44 |
| | (0)1829 |
| | 261 910 |
+------------+---------+
| Rob | |
| Lloyd | |
| (Group | |
| Chief | |
| Executive) | |
+------------+---------+
| Duncan | |
| Syers | |
| (Group | |
| Finance | |
| Director) | |
+------------+---------+

+-------------------------------------+------------------------------+
| Evolution Securities Limited | Tel: [phone] |
| | |
+-------------------------------------+------------------------------+
| Joanne Lake/Peter Steel | |
+-------------------------------------+------------------------------+

+-------------------------------------+------------------------------+
| Optiva Securities Limited | Tel: [phone] |
| | |
+-------------------------------------+------------------------------+
| Jeremy King | |
+-------------------------------------+------------------------------+

+-------------------------------------+------------------------------+
| Threadneedle Communications | Tel: [phone] |
| | |
+-------------------------------------+------------------------------+
| Graham Herring/John Coles | |
+-------------------------------------+------------------------------+

End

This information is provided by RNS

The company news service from the London Stock Exchange

MSCSFSFLMFSSEEU

(END) Dow Jones Newswires

16-09-10 1421GMT

[kish_008] 16/9/2010 11:53

Right, in for 2k on this. Made a nice little profit on the rise to 4p last time, now hoping this will turn the corner.

[comedy] 15/9/2010 19:02

o/tsorry max missed your head sup on sam...afraid internet been crashing at work today....chc/alo link mauratania gold assets...most have jumped in chc...but alo is still cheap to get compared to what the rest of us got in at ...if chaps info correct should get news under 2 weeks for alo/chc...he was spot on re:tstr....hence most of us bought top ups in chc yesterday..:)

[induna123] 15/9/2010 09:38

OK, I've punted a grand on this. That's all I'm prepared to lose.

[induna123] 15/9/2010 09:25

You love love Sam don't you Max. People will talk...

[maxmarilli] 14/9/2010 14:52

buy i think...i was quoted 0.617 to buy 300k,but added sam instead

[joe the plumber] 14/9/2010 14:17

Was the 242k buy or sell?

[maxmarilli] 14/9/2010 13:45

comedy did you get some sam?

[joe the plumber] 14/9/2010 12:38

Hmmmm looks good here

[maxmarilli] 13/9/2010 18:41

wanted to add but they wanted 0.7 for 200k.....will see tomorrow but we are close to some news and let`s hope the banks will give more trust time and support...if that forget below 1.5p.......if not bye bye charlie.i`m in with 660k....gla,max.(comedy check SAM,wed AGM could give good news).

[argy2] 13/9/2010 15:35

Was that your 2 x 250K?

[comedy] 13/9/2010 15:17

well took the gamble topped up with another 500k.

[prospero06] 12/9/2010 22:06

Taken from RNS of 24 June 2010.



"The directors expect that the net proceeds of the placing, together with the other financial resources available to Eatonfield, will provide the Company with sufficient working capital funding through to mid-September 2010. The directors continue to seek further funding and have confidence that additional funding will be made available to the Group and will provide an update at the appropriate time. As previously notified, the provision of such further funding remains dependent on the arrangement of a "standstill agreement" with all of Eatonfield's banks."




Would anybody be prepared to predict the outcome here?

[maxmarilli] 10/9/2010 16:06

TARA,are you still in SAM?I`m in sam and efd with VAL and RRL the strongest holding...check them out....

[daicaprice] 10/9/2010 14:44

Thanks for the discussion on INL, next few weeks will be interesting there.
Lets hope we get some good news here as well.

DC

[wig123] 10/9/2010 14:39

When you think about it, RL and EFD gained pp on Corus etc., they have then fed off of that p.p. and milked it dry without building a single house.


In RLs immortal words having bought back that other site in a personal capacity " Its nice to have a second bite of the cherry"




makes you wonder, and makes one keep his money in his pocket for the time being ;-)

[wig123] 10/9/2010 14:30

First point should be to buy the right land, irrespective of price ;-)

[tara7] 10/9/2010 14:29

Wig123, agreed

[tara7] 10/9/2010 14:28

Two points to make money from housebuilding.

First the profit should be MADE the day the land is bought, ie at the right price.

Second, you need to charge 15% extra for your houses and get away with it.

That can not be done with estate boxes.!!

[wig123] 10/9/2010 14:26

tara, not telling you how to suck eggs, but the dairy is made in gaining p.p., building is just wages. ;-)

[daicaprice] 10/9/2010 14:21

They own 33% of Howarth Homes who are a quality builder in the S/E, and on the DGV site have a profit share up to 92% if I remember correctly, not saying it's another NTA but lots of similarities.

DC