EFD Eatonfield

 

TIDMEFD 
 
RNS Number : 2057O 
Eatonfield Group plc 
24 June 2010 
 

24 June 2010 
 
 
                              Eatonfield Group plc 
                  ("Eatonfield", "the Group" or "the Company") 
                                Issue of Equity 
 
The board of Eatonfield announces that it has raised GBP0.3 million through the 
placing of 30,000,000 new ordinary shares of one penny each ("Ordinary Shares") 
at a price of one penny per Ordinary Share. 14,200,000 Ordinary Shares have been 
placed by Optiva Securities Limited (formerly Orbis Equity Partners Limited), 
the Company's joint broker, with a range of existing and new shareholders. In 
addition: 
 
·     15,000,000 Ordinary Shares have been placed with Jason Lloyd, son of Rob 
Lloyd, the Company's Chief Executive. On admission of the new Ordinary Shares 
("Admission") to trading on the AIM Market ("AIM") of London Stock Exchange plc, 
Jason Lloyd's beneficial interest will be in 15,400,000 Ordinary Shares, 
representing 4.36% of the Company's enlarged issued share capital. 
 
·      800,000 Ordinary Shares have been placed with Duncan Syers, the Company's 
Finance Director, through his self-invested pension plan. On Admission, Mr 
Syers' beneficial interest will be in 800,000 Ordinary Shares, representing 
0.23% of the Company's enlarged issued share capital. 
 
As part of the arrangements for the Placing, the Company has issued placees 
with, in aggregate, 15,000,000 warrants ("the Warrants") to subscribe for 
Ordinary Shares. Each Warrant carries subscription rights over one Ordinary 
Share at a price of one penny per share. The Warrants can be exercised at any 
time up to three years from Admission. 
 
The placing, whose completion remains conditional on admission of the new 
Ordinary Shares to trading has been carried out within the Company's existing 
authorities to allot Ordinary Shares, as approved by shareholders at a general 
meeting of the Company held on 28 May 2010. 
 
The directors expect that the net proceeds of the placing, together with the 
other financial resources available to Eatonfield, will provide the Company with 
sufficient working capital funding through to mid-September 2010. The directors 
continue to seek further funding and have confidence that additional funding 
will be made available to the Group and will provide an update at the 
appropriate time. As previously notified, the provision of such further funding 
remains dependent on the arrangement of a "standstill agreement" with all of 
Eatonfield's banks. 
 
Separately, the directors announce that the Company has today issued 602,150 new 
Ordinary Shares at the closing middle market price on 30 April 2010 of 2.325 
pence per Ordinary Share as part of an arrangement for the settlement of a trade 
debt. 
 
Application will be made for Admission of the new Ordinary Shares. It is 
expected that Admission will become effective and that dealings will commence in 
the new Ordinary Shares at 8.00 a.m. on 30 June 2010. On Admission of the new 
Ordinary Shares, the Company will have 352,836,925 Ordinary Shares in issue with 
voting rights. 
 
For further information please contact: 
 
+-------------------------------------+------------------------------+ 
| Eatonfield Group plc                | Tel: +44 (0)1829 261 910     | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
| 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 (formerly | Tel: +44 (0)203 137 1904     | 
| Orbis Equity Partners Limited)      |                              | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
| Jeremy King                         |                              | 
+-------------------------------------+------------------------------+ 
 
+-------------------------------------+------------------------------+ 
| Threadneedle Communications         | Tel: +44 (0)207 653 9850     | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
| Graham Herring/John Coles           |                              | 
+-------------------------------------+------------------------------+ 
 
 
                                      End 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IOEXZLFLBQFEBBD 
 

Eatonfield (LSE:EFD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Eatonfield (LSE:EFD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024