3 Aug 2009 07:00
PCF.L / Index: AIM / Sector: Speciality & other finance
Private & Commercial Finance Group plc ("PCFG" or the "Company")
Placing of New Loan Notes
The Directors of Private & Commercial Finance Group plc, the AIM quoted finance house, are pleased to announce the successful completion of a placing by Daniel Stewart & Co of 389,648 10% unsecured convertible loan notes ("Loan Notes") of £1 each, raising £389,648 before expenses (the "Placing"). The Loan Notes:
yield 10% per annum interest, payable half yearly on 31 March and 30 September
carry a right to convert into ordinary shares of PCFG at 25p per share
are repayable on not less than 12 months' prior notice expiring on or after 30 September 2013
are repayable at the option of the Company on any interest payment date
will not be quoted on any stock exchange
The net proceeds of the initial Placing will be used in order to redeem in part the 2009 loan notes due for repayment on 30 September 2009.
**ENDS**
For more information, please contact:
| Private & Commercial Finance Group plc | |
| Scott Maybury | Tel: 020 7222 2426 |
| Hanson Westhouse Limited, Nominated Adviser | |
| Tim Feather | Tel: 0113 246 2610 |
| Daniel Stuart & Co | |
| Martin Lampshire/Graham Webster | Tel: 020 7776 6598 |
| St Brides Media and Finance | |
| Felicity Edwards | Tel: 020 72361177 |
Notes to editors:
Private & Commercial Finance Group plc, which is authorised and regulated by the Financial Services Authority, is an independent AIM-listed finance house. The Group provides a carefully selected range of high quality equipment finance products tailored for both business and personal customers. The range extends from financing cars for consumers to leasing a wide range of vehicles & equipment to businesses.