Placing and Restructuring

RNS Number:8029S
Dipford Group PLC
22 April 2008

                  Dipford Group developments and fund raising


Dipford Group plc, a leading operator in the business broking market, is pleased
to confirm it has completed a placing ("the Placing") to raise �485,000 through
the issue of 8% Convertible Unsecured Loan Stock 2013 ("CULS" or "Loan Notes").

The Placing represents completion of a significant restructuring and refinancing
of the Group. This has included the consolidation of the operations side of the
Kings Business Transfer business into the core Redwoods Dowling Kerr business
which will lead to cost savings through the closure of Kings' Bury office. Each
business will continue to develop activities in its own market sectors and
geographical areas but will now be serviced from a common centre.

The Company has also completed a restructuring of existing Bank loans. The net
proceeds of the Placing will be applied to provide the Company with additional
working capital.

The Company's results for the current year ending 30 April 2008 will be impacted
by the exceptional costs of the actions it has taken to introduce permanent cost
savings into the business together with a further write down of goodwill.  The
full effect of these savings should be reflected in the next financial year.

The CULS carry interest payable quarterly in arrears on the last business day
of each of the months of July, October, January, and April, with the first
interest payment being made on 31 July in respect of the period since the date
of issue until 31 July.

The Loan Notes are convertible into new Ordinary Shares at the price of 5p per
share at any time in units of not less than �1,000 at the holders' discretion.
Any Loan Notes not previously converted may be redeemed by the Company on or
after 21 April 2013. Full conversion of the Loan Notes would result in the issue
and allotment of 9,700,000 new Ordinary Shares, representing approximately
45.49% of the existing issued share capital.

Jonathan Custance Baker, Chief Executive has invested �150,000 in the Placing
and he and Miles MacEacharn, Finance Director, have also participated through
conversion of existing loans of �40,000 and �10,000 respectively into CULS. The
Directors, who have consulted Blue Oar Securities, the Company's nominated
adviser and broker, consider that the participation by the Directors in the
Placing is in the best interests of the Company and its shareholders.




Enquiries:


Jonathan Custance Baker, Chief Executive, 01392 256800


John Wakefield, Director, Corporate Finance, Blue Oar Securities, 0117 933 0020


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

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