Ekay PLC                                    

           Acquisition of WFCA Integrated Limited ("WFCA") - update            

Further to the announcement made on 14 March 2008 ("Announcement") by Ekay PLC
("Ekay" or the "Company"), the Company is pleased to announce that the terms of
the debt financing facilities required to partially finance the acquisition of
the whole of the issued share capital of WFCA ("Acquisition") have been agreed
(the "Debt Facility").

The Debt Facility will, taking into account the anticipated net proceeds of the
placing of new ordinary shares in Ekay referred to in the Announcement, permit
the completion of the Acquisition and assist in providing, in the opinion of
the directors of the Company, sufficient working capital for the Company and
its subsidiaries following completion of the Acquisition. The availability of
funds under the Debt Facility is subject to the satisfaction of certain
conditions which are required to be satisfied before the Debt Facility can be
drawn down. Subject to the satisfaction of such conditions, it is intended that
the Debt Facility will be drawn down at completion of the Acquisition
("Completion") following approval of an increase of the Company's borrowing
powers which is to be proposed at the General Meeting of the shareholders of
Ekay to be held on 2nd April 2008 ("GM").

As part of the terms of the Acquisition, two of the vendors of the entire
issued share capital of WFCA, Michael Richards and Rodger Braidwood, have
chosen to take an aggregate of �1 million of the cash consideration due to them
at Completion in the form of loan notes to be issued by Ekay at Completion
("Loan Notes"). The Loan Notes will bear interest at 3 per cent over the Bank
of Scotland base rate from time to time and will be repaid by the Company in
five equal instalments on the dates falling 12, 18, 24, 30 and 36 months after
Completion. The Company may elect to repay the Loan Notes earlier without
penalty.

A further announcement will be made once the GM has been held.

                                                                 1st April 2008

Enquiries:

Ekay PLC                                0147 433 4343                          
                                                                               
Eddie Powell, Chief Executive                                                  
                                                                               
Daniel Stewart & Company Plc            020 7776 6550                          
                                                                               
Simon Leathers / Simon Starr                                                   
                                                                               
Nexus Financial Ltd                     020 7451 7050                          
                                                                               
Nicholas Nelson / Kathy Boate                                                  



END



Ekay (LSE:EKY)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024 Ekay 차트를 더 보려면 여기를 클릭.
Ekay (LSE:EKY)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024 Ekay 차트를 더 보려면 여기를 클릭.