Webis Regulatory News (WEB)

26 Feb 2007 07:01

betinternet.com PLC26 February 2007 betinternet.com plc For Release 7:00 am, Monday 26 February 2007 Issue of Convertible Loan Note The Board of betinternet.com plc, ('betinternet' or 'the Company') the globalon-line gaming group, confirms that on 23 February 2007, the Company enteredinto a convertible loan note with its major shareholder, Burnbrae Limited ('Burnbrae'), raising a total of £300,000 for the Company before costs. Under the terms of the loan note Burnbrae is entitled to convert that aggregateamount at the rate of one Ordinary Share for every 7.5p of such amountconverted. Conversion of the loan note would result in the issue of 4,000,000new Ordinary Shares which would increase the holding of Burnbrae and itsconnected parties from 50.05 per cent. to 51.04 per cent. of the issued ordinaryshare capital of the Company. The Board believes that raising this additional finance will enable the Companyto fund short term working capital requirements and continue the enhancements toit sportsbook portal and pari-mutual website. For further information: Betinterenet.com plcGarry Knowles, Managing Director Tele: 01624 698141 Joanne LakeEvolution Securities Limited Tele: 0113 243 1619 END This information is provided by RNS The company news service from the London Stock Exchange