Last checked at 21 Oct 2008 14:49
Northern Bear Plc
("Northern Bear" or the "Company")
Issue of equity
Northern Bear announces that, following his resignation as chairman and director reported earlier today, Jon Pither assigned to Daisy Roth the beneficial interest in a loan of £150,000 made by Mr Pither to the Company prior to its flotation in 2006.
Ms Roth has agreed with the Company that the Company's obligations in respect of the loan assigned to her will be satisfied in full by the allotment to Ms Roth of 214,285 ordinary shares of 1p each in the capital of the Company (the "New Shares").
Application has been made for the New Shares to be admitted to trading on AIM and dealings are expected to commence on 28th October 2008.
Following admission, the total issued ordinary share capital of the Company will increase to 18,967,092 ordinary shares of 1p each.
-Ends-
Enquiries please contact:
Northern Bear Plc
Graham Forrest, Chief Executive
07764963751
Strand Partners Limited
James Harris
02074093494
St Helen's CapitalRuari McGirr
02076285582
Bishopsgate Communications
Nick Rome
02075623366
For further information on the Company please visit www.northern-bear.com