Issue of Equity and Equity Drawdown Facility

 

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: [phone]     | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
| Paul Williams (Executive Chairman)  |                              | 
+-------------------------------------+------------------------------+ 
| Rob Lloyd (Group Chief Executive)   |                              | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
 
+-------------------------------------+------------------------------+ 
| Evolution Securities Limited        | Tel: [phone]     | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
| Joanne Lake/Peter Steel             |                              | 
+-------------------------------------+------------------------------+ 
 
+-------------------------------------+------------------------------+ 
| Orbis Equity Partners 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 
   END 
 
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