WBN Woburn Energy

 

TIDMWBN 
 
RNS Number : 3351W 
Woburn Energy PLC 
17 November 2010 
 

+-------------------------------+-------------------------------+ 
| For immediate release         |              17 November 2010 | 
+-------------------------------+-------------------------------+ 
                                Woburn Energy Plc 
                       ("Woburn Energy" or the "Company") 
                               Additional Funding 
 
Woburn Energy announces that Cetus Investment Resources Inc ("Cetus Investment") 
has today provided the Company with additional funding of GBP650,000. The new 
funding has been provided by Cetus Investment as an unsecured loan and is not 
interest bearing. The loan shall become repayable on demand by Cetus Investment 
on or after 30 June 2011. The funds will be used for the Company's general 
working capital purposes and to finance any due diligence and professional costs 
on any potential new projects which the Company may continue to review. 
 
Cetus Investment holds 200,000,000 Ordinary Shares representing 86.147 per cent. 
of the Ordinary Shares. Pursuant to the AIM Rules, the funding to be provided by 
Cetus Investment is a related party transaction. Hasan Ali Hashwani and Rustom 
Kanga, directors of the Company, are directors of Cetus Investment. Arif Kemal 
and Kamran Ahmed, directors of the Company, are representatives of Cetus 
Investment. 
 
Accordingly, the independent directors of the Company comprising Dr John Cubitt 
and Tony Baldry (the "Independent Directors") consider, having consulted with 
the Company's Nominated Adviser, that the terms of the funding are fair and 
reasonable insofar as the Company's shareholders are concerned. The Independent 
Directors have particularly noted that the funding is non-interest bearing and 
unsecured, and will enable the Company to progress its evaluation of potential 
development opportunities. 
 
For further information, please contact: 
 
+----------------------------------------+------------------------+ 
| Woburn Energy Plc                      | Tel: +44 (0)20 7380    | 
|                                        | 4609                   | 
+----------------------------------------+------------------------+ 
| Dr John Cubitt, Managing Director      | www.woburnenergy.com   | 
+----------------------------------------+------------------------+ 
| Beaumont Cornish Limited (Nominated    | Tel: +44 (0)20 7628    | 
| Adviser)                               | 3396                   | 
+----------------------------------------+------------------------+ 
| Michael Cornish                        |                        | 
+----------------------------------------+------------------------+ 
 
ENDS 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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