5th Jul 2005 18:15
Earthport PLC05 July 2005 Stock Exchange Announcement For immediate release 5th July 2005 earthport plc ("earthport" or the "Company") Preliminary Notice of Extraordinary General Meeting The Board of earthport plc has called an Extraordinary General Meeting ("EGM")of the Company to rationalise recent fund raising activity and to reorganise thecapital structure of the Company. This is one of a number of planned steps tosecure successful development of the Company's business opportunity. During the past few weeks the Company has raised £1 million through issuingConvertible Loan Notes 2005. A further £1 million is expected to be raised upto the EGM. Several institutions led by Millennium Global Investments Limitedand including General Capital Venture Finance Limited are participating in thisfundraising. Following the passing of resolutions at the EGM and the Capital reorganisation,the Company is proposing a new equity fundraising to raise between £4 millionand £5 million. Support for a substantial portion of this next phase ofinvestment has already been received by the Company, subject to the passing ofthe resolutions at the EGM. Your Board believes that this fundraising combined with improving revenues willallow the Company to pursue its identified new business opportunities and itsplan to support its existing operations through to profitability. A circular is being issued to shareholders with full details of the EGM. to beposted on Wednesday 6th July and released on RNS. End Press enquiries: Neil Clayton CFO earthport PLC +44 20 7907 1100 David Nabarro/Nigel Atkinson Nabarro Wells +44 20 7710 7400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Earthport