MCOZ Cosentino Regs

RNS Number:1877U
Cosentino Signature Wines plc
02 April 2007

2 April 2007


          Cosentino Signature Wines plc ("Cosentino" or "the Company")

                             Refinancing Completed

Cosentino, the AIM listed, Napa Valley based, wine company is pleased to
announce that further to the Company's announcement on 12 February 2007, formal
agreement has been reached with its Senior and Senior Subordinated Lenders in
relation to the Company's refinancing.


The Company has agreed a two year extension and a $2 million increase in credit,
of its Secured Senior Term Loan. Following the increase in credit, the Secured
Senior Term Loan now totals $20 million and interest is payable at the Prime
Rate (currently 8.25 per cent.) plus 2 per cent. This facility is also
accompanied by the issue to the Senior Lender of 1,182,677 of 5 year Warrants,
exercisable at 24.75p per share.


Furthermore, the Company has also agreed a two year extension of its $5 million
Senior Subordinated loan, with a second lien on all assets, at the Prime Rate.


The Company will be shortly seeking shareholder approval for the issue of $4
million of new 10 per cent. Cumulative, Redeemable Preference Shares which will
be accompanied by an issue of 5 year Warrants, exercisable at 24.75p per share,
to subscribe for 12 per cent. of the Company's fully diluted share capital.  The
Company has already received the funds through the issuance of convertible
subordinated notes.


The terms of the 1,182,677 5 year Warrants already granted to the Senior Lender
are identical to those to be issued as part of the proposed Preference Share
issue. As part of the arrangements agreed with the Senior Lender, a further
170,989 Warrants will be issued to the Senior Lender should the Preference Share
and associated Warrant issues raise $4 million. This will ensure that the Senior
Lender's Warrant interest equates to 5 per cent of the then fully-diluted equity
share capital of the Company.


The Company also announces that its preliminary results for the 12 months ended
31 December 2006 are expected to be released on 20 April 2007.


Larry Soldinger, Executive Chairman and Chief Executive commented,


"I am very happy to have agreed these loan extensions along with the additional
$2 million of funds that we now have available to us.  This two year financing
package, along with the additional funds already deposited from our proposed new
preference share issue, solidly puts the Company back into position to
successfully execute on our business plan.."


                                   -  Ends  -


Enquiries

Larry Soldinger, Executive Chairman and CEO,            Tel: 001 847 726 8100


Jonathon Brill/Billy Clegg, Financial Dynamics,         Tel: 020 7831 3113


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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