MAP MG Capital

    RNS Number : 3643B
  MG Capital PLC
  14 August 2008
   

    14 August 2008

    MG Capital plc 
("MG Capital" or "the Company")

    Issue of Convertible Loan Notes

    MG Capital plc (AIM: MAP) has issued �65,000 of convertible loan notes to Peter Hannen, the Company's Chairman.  The loan stock has been
subscribed for in cash at par value.  The loan notes carry interest at the rate of 6.5 per cent. per annum and have a life of three years.
The Company may redeem them at any time during that period or, at the option of the holder, they may be converted into new ordinary shares
in the Company.  The conversion price is the higher of either the nominal value of the ordinary shares or the average mid market price of
the ordinary shares during the 5 business days prior to the date on which notice of conversion is given.

    With the exception of Mr Hannen, who is involved in the transaction as a related party, the directors of MG Capital consider, having
consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are
concerned.

    -End-

    Enquiries:

 Charles Fowler, MG Capital plc                          020 7332 2040

 Hugh Oram, Nabarro Wells & Co. Limited                  020 7634 4705






This information is provided by RNS
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