STN Setstone

RNS Number:8091V
Setstone PLC
25 February 2004

25 February 2004



Announcement



                          Setstone Plc ("the Company")



             Issue of Convertible Loan Stock and Additional Listing



The Company announces that it has today raised #300,500 by the issue of 6%
Convertible Redeemable Loan Stock ("Loan Stock"). The Loan Stock is redeemable
on 31 December 2006 or at any time by the Company and is convertible into
ordinary shares at par at any time by the Loan Stock holders. Additionally Loan
Stock Holders have been allotted warrants to subscribe for new ordinary shares
of 0.1p on the basis of 100 new ordinary shares for each #1 of Loan Stock
subscribed at 1p per new ordinary share.



2,665,000 new ordinary shares have been conditionally allotted upon conversion
of #2,665 of Loan Stock.



Further the Company has today allotted 9,500,000 new ordinary shares for cash at
par and allotted a further 8,075,000 new ordinary shares by way of settlement of
fees and coomissions on the raising of the Loan Stock.



Application has been made for the new ordinary shares to be traded on AIM and
dealings are expected to commence on 2 March 2004.


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

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