Working Capital Funding


 

TIDMEFD 
 
RNS Number : 8388S 
Eatonfield Group plc 
16 September 2010 
 

16 September 2010 
 
 
                              Eatonfield Group plc 
                          ("Eatonfield" or "the Group") 
                            Working capital funding 
 
On 24 June 2010, the board of Eatonfield announced that the Group had sufficient 
working capital funding through to mid-September 2010. The board now expects the 
Group's existing financial resources will provide it with sufficient working 
capital funding until mid-October 2010. 
 
Whilst certain of the Group's banking facilities are due for renewal on 30 
September 2010, the board remains in discussions with the Group's banking 
partners to obtain an extension to these facilities. The board is also seeking 
to raise additional equity funding which, due to Eatonfield's current share 
price being below the nominal value of one penny per ordinary share, will 
require a capital reorganisation. A circular convening a general meeting to 
consider the capital reorganisation will be sent to shareholders in due course. 
 
The board is also progressing a range of strategic options to secure the Group's 
longer term future and further updates will be provided at the appropriate time. 
 
 
For further information please contact: 
 
+------------+---------+ 
| Eatonfield | Tel:    | 
| Group plc  | +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           | Tel: +44 (0)203 137 1904     | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
| 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 
 
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