Equity Drawdown Facility
11 Março 2010 - 4:00AM
UK Regulatory
TIDMEFD
RNS Number : 4085I
Eatonfield Group plc
11 March 2010
11 March 2010
PRESS RELEASE
Eatonfield Group plc
("Eatonfield" or "the Company")
Equity Drawdown Facility
The board of Eatonfield is pleased to announce that on 10 March 2010, it agreed
a GBP900,000 equity facility to provide the Company with further funding. This
investment is additional to the GBP100,000 raised by the issue of 10,000,000 new
ordinary shares of 1p each ("Ordinary Shares") announced on 9 March 2010.
This funding, which is subject to (i) certain warranties given by the Company
and (ii) certain conditions being satisfied prior to drawdown, is to be made
available by way of an equity drawdown facility provided by Jenard Properties
Limited ("Jenard"), one of Eatonfield's joint venture partners. Jenard also
subscribed for the Ordinary Shares issued on 9 March 2010.
The facility is available for Eatonfield to draw down at any time between today
and 31 August 2010. All sums drawn down will be satisfied by the issue of
Ordinary Shares in Eatonfield at a price of 1p per share. The facility, if
drawn down in total, will provide Eatonfield with sufficient working capital
through to 31 August 2010.
The directors of Eatonfield are actively continuing to pursue further equity
funding in order to ensure that the Company has available to it adequate working
capital for the foreseeable future. A further announcement in this respect will
be made at the appropriate time.
For further information:
Eatonfield Group plc
Paul Williams, (Executive Chairman) Tel: (+44) (0)1829
261910
Rob Lloyd, (Chief Executive)
Evolution Securities
Joanne Lake/Peter Steel Tel: (+44) (0)
113 243 1619
Orbis Equity Partners Limited Tel: (+44) (0) 203 137
1904
Jeremy King
Threadneedle Communications
Graham Herring Tel: (+44)
(0) 20 7653 9858
This information is provided by RNS
The company news service from the London Stock Exchange
END
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