Further details on the Fundraising

2 Jul 2009 12:02



Hardide plc ('Hardide' or 'the Company')

 Further details on the Fundraising 

Further to the announcement this morning regarding the above, the Company would like to draw attention to the fact that the Fundraising, which is subject to shareholder approval at the general meeting to be held on 17 July 2009 and certain other conditions, comprises a placing of 311,066,667 new ordinary shares in the Company at 0.3p per share (the "Placing Price") to raise £933,200 and the issue of a new loan note, convertible into new ordinary shares at a 50% premium to the Placing Price, of £633,000. Thus new funds into the Company total £1,566,200. In addition, loans totalling £1 million, also subject to shareholder approval and certain other conditions, are being converted into new ordinary shares at the Placing Price. This information is contained within the announcement made this morning, and further details of this and the General Meeting, Share Reorganisation and Grant of Options are set out in the circular which has been posted to shareholders and which is also available on the Company's website: www.hardide.com.

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