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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eatonfield | LSE:EFD | London | Ordinary Share | GB00B1FQDQ64 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMEFD
RNS Number : 9663C
Eatonfield Group plc
15 March 2011
15 March 2011
Eatonfield Group plc
("Eatonfield" or "the Group")
Working capital funding update
On 28 February 2011, the board of Eatonfield announced that the Group had sufficient working capital funding through to mid March 2011. Eatonfield continues to defer payment of amounts due to certain of its senior lenders and trade creditors. On the basis that the previously notified short-term loan (for which terms have been received) is made available, that the relevant lenders and trade creditors do not demand payment in the short-term and that Eatonfield continues to receive their support, the board now expects that the Group's existing financial resources will provide it with sufficient working capital funding until late March 2011.
With respect to the anticipated sale of Eatonfield's Welsh land portfolio, whilst discussions with the Group's lenders have progressed since the last update, their formal consent to these arrangements remains outstanding. Whilst the board remains confident that this formal consent will be received, there can be no guarantee that completion will ultimately take place.
Assuming successful conclusion of these negotiations, the board repeats its intention to then seek agreement to similar arrangements for the Group's Corus and Birkwood sites as well as pursue plans to raise further equity. The board also confirms that all of the Group's existing bank facilities remain available at the date of this announcement.
For further information please contact:
Eatonfield Group plc Tel: +44 (0)1829 261 910 Brian Corfe (Executive Chairman) Rob Lloyd (Group Chief Executive) Duncan Syers (Group Finance Director) Evolution Securities Limited Tel: +44 (0)113 243 1619 Joanne Lake/Peter Steel Optiva Securities Limited Tel: +44 (0)203 137 1904 Jeremy King Threadneedle Communications Tel: +44 (0)207 653 9850 Graham Herring/John Coles
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This information is provided by RNS
The company news service from the London Stock Exchange
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