WGT Wallgate

RNS Number:2699C
Wigmore Group (The) PLC
24 August 2004

                             The Wigmore Group plc
                       ("Wigmore Group" or the "Company")

                         Further Investment by Burnbrae

The Directors of Wigmore Group are pleased to announce the signing of a
convertible redeemable unsecured loan note for the value of #500,000 with
Burnbrae Limited. The signing of the loan note represents a further step in
Burnbrae's stategic investment in Wigmore Group.

The loan notes will only become convertible once shareholder approval is
obtained for their conversion rights by 8 October 2004, otherwise the full
#500,000 loan will become immediately repayable. A circular regarding this will
be sent to shareholders in due course. The loan notes will be convertible at a
rate of 100 new ordinary shares in the Company for every 11p of loan note and
upon conversion Burnbrae Limited will be granted 1 warrant for every 2 shares
then issued. The warrants will be exercisable for three years from the date of
grant at a price of 0.11p per share.

The first #100,000 tranche of the loan note has been received by the Company and
the remaining #400,000 is payable upon satisfactory completion of a financial
review. The loan notes will bear interest at 7.2% per annum, are repayable on 30
June 2007 and are redeemable, subject to certain conditions having been met, at
any time from 6 July 2006 to 30 June 2007.

Peter L Hewitt
Executive Chairman

For further information please contact:
Peter Hewitt      Executive Chairman      01293 423 301

Note to Editors:

The Wigmore Group PLC (LSE: WGT) is a focussed support services group deriving
its business from a mixture of term contracts with good covenants, after-sale
housing services, domestic and commercial building insurance solutions, and
speciality contracting. It provides business to business building and
maintenance services to both the public and private sectors as well as fast
track design, construction and property refurbishment services to the leisure
and hotel sector throughout the UK.
www.wigmoregroup.com

The Wigmore Group plc has three principle subsidiaries:

www.speymill.com
www.fnpm.co.uk
www.dfblanchard.com


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

END
IODPUUCPRUPCGAC

Wallgate (LSE:WGT)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024

Wallgate (LSE:WGT)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024