OKG Oakgate

RNS Number:5083Z
Oakgate PLC
08 June 2004

For immediate release                                                8 June 2004


                      OAKGATE PLC (formerly PRIMEENT PLC)
                          ("Oakgate" or "the Company")

                                Convertible Loan
                                  Board Change

Further to the #50,000 Convertible Loan dated 29 December 2003 between Oakgate
and Xerius Limited, Clarion Finance AG and Atun Select Fund Limited, revised
terms have been agreed and approved by the Board.

In addition to the total allotment of 5,000,000 shares on full conversion, the
Company have issued 5,000,000 warrants to subscribe for Ordinary Shares at an
exercise price of 2p and the term of the loan has been extended for a period of
fourteen months.

The Convertible Loan has been made as follows:

Xerius Limited #14,000;
Clarion Finance AG #20,000; and
Atun Select Fund Limited #16,000.

The Board have also agreed to issue to La Rochevillers and Carlton Finance
500,000 warrants each to subscribe for Ordinary Shares at an exercise price of
2p for a period of fourteen months, restricted from exercise for a period of one
year for services to the Company (the "Warrants").

Mr Rudolf Irminger has resigned from the Board with immediate effect, and the
Board have issued 200,000 warrants to him on the same terms as the Warrants
described above.




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

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