Delay in Payment for Shares

RNS Number:2423V
Equable Properties PLC
20 April 2007


For Immediate Release, 20 April 2007


                             Equable Properties Plc
                          ("Equable" or "the Company")

                          Delay in Payment for Shares



In compliance with Rule 11 of the AIM Rules, the Board of Equable announces
that, due to the need for permission to  transfer funds from a foreign domicile
to the UK, the Company has experienced a delay in receiving payment in respect 
of 42,857,143 ordinary shares from one of the subscribers to its recent placing
of 111,064,286 ordinary shares of 1p  each at 1.4p ("Placing"). The Company has
received confirmation from the subscriber's bank that sufficient funds have 
been deposited in a separate account awaiting consent for the funds to be
remitted to the UK in full satisfaction of  the obligation. Such consent has
been applied for and is expected to be issued in due course.

Pending receipt of the funds, the Board is confident that the Company has
adequate working capital to meet its  obligations and continue normal
operations.

The Company will make a further announcement when this matter is resolved.




For further information, please contact,

Desmond Bloom
Chief Executive, Equable Properties Plc
Tel. 07793 125 625

Ben Simons
Hansard Group
Tel. 020 7245 1100

Robert Lo/Marc Cramsie/Natasha Reed
Nabarro Wells & Co. Limited
Tel. 020 7710 7400





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

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