Issue of Equity and Equity Drawdown Facility

 

TIDMEFD 
 
RNS Number : 0233N 
Eatonfield Group plc 
03 June 2010 
 

                              Eatonfield Group plc 
                  ("Eatonfield", "the Group" or "the Company") 
                  Issue of Equity and Equity Drawdown Facility 
 
The board of Eatonfield announces that on 2 June 2010, the Company drew down 
GBP222,350 against its previously notified equity drawdown facility ("the 
Facility") with Jenard Properties Limited ("Jenard"), to be satisfied by the 
issue of 22,235,000 new ordinary shares of 1 penny each ("Ordinary Shares") at a 
price of 1 penny per Ordinary Share. The GBP222,350 drawn down under the 
Facility will be used for working capital funding. 
 
Following this drawdown, GBP350,000 remains available under the Facility for 
draw down at any time until 31 August 2010. As previously notified, 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 22,235,000 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 9 June 
2010. 
 
On admission of the 22,235,000 new Ordinary Shares referred to above, the 
Company will have 322,234,775 Ordinary Shares in issue with voting rights and 
Jenard's notifiable interest will be in 90,000,000 Ordinary Shares, representing 
27.93% of the Company's enlarged issued share capital. 
 
 
For further information please contact: 
 
+-------------------------------------+------------------------------+ 
| Eatonfield Group plc                | Tel: [phone]     | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
| Rob Lloyd (Group Chief Executive)   |                              | 
+-------------------------------------+------------------------------+ 
| Duncan Syers (Group Finance         |                              | 
| Director)                           |                              | 
+-------------------------------------+------------------------------+ 
 
+-------------------------------------+------------------------------+ 
| 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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