Working Capital Funding Update


 

TIDMEFD 
 
RNS Number : 2542V 
Eatonfield Group plc 
29 October 2010 
 

29 October 2010 
 
 
                              Eatonfield Group plc 
                          ("Eatonfield" or "the Group") 
                         Working capital funding update 
 
On 1 October 2010, the board of Eatonfield announced that the Group had 
sufficient working capital funding through to the end of October 2010. The board 
now expects the Group's existing financial resources will provide it with 
sufficient working capital funding until mid November 2010. 
 
As previously notified, certain of the Group's banking facilities fell due for 
renewal on 30 September 2010. Whilst the Group has not received formal notice of 
extension of such facilities, the board remains in constructive discussions with 
the relevant lenders and all of the Group's existing banking facilities remain 
available at the date of this announcement. 
 
The board continues to make progress with a range of strategic options, 
including the disposal of certain of its land assets, which, if successful, 
would reduce the Group's net debt, as well as a plan to raise further equity. 
 
For further information please contact: 
 
+------------+---------+ 
| Eatonfield | Tel:    | 
| Group plc  | +44     | 
|            | (0)1829 | 
|            | 261 910 | 
+------------+---------+ 
| Brian      |         | 
| Corfe      |         | 
| (Executive |         | 
| Chairman)  |         | 
+------------+---------+ 
| Rob        |         | 
| Lloyd      |         | 
| (Group     |         | 
| Chief      |         | 
| Executive) |         | 
+------------+---------+ 
| Duncan     |         | 
| Syers      |         | 
| (Group     |         | 
| Finance    |         | 
| Director)  |         | 
+------------+---------+ 
 
+-------------------------------------+------------------------------+ 
| Evolution Securities Limited        | Tel: +44 (0)113 243 1619     | 
|                                     |                              | 
+-------------------------------------+------------------------------+ 
| Joanne Lake/Casper Kaars            |                              | 
+-------------------------------------+------------------------------+ 
 
+-------------------------------------+------------------------------+ 
| 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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