CPN Crucial Plan

RNS Number:9035I
Crucial Plan plc
30 November 2007





                                Crucial Plan Plc

                       ("Crucial Plan" or the "Company")



                                Issue of Equity





Crucial Plan announce that today, Minmet (Isle of Man) Limited, a company of
which Peter Maddocks is a director and which is wholly owned by Minmet plc, a
company of which all three of the directors of Crucial Plan (the "Directors")
either are, or were in the last 12 months, directors, has subscribed for
3,333,333 ordinary shares of 0.5 pence each in the Company ("Ordinary Shares")
at a price of 3 pence per Ordinary Share raising approximately #100,000, before
expenses, for the Company.  Application has been made for these Ordinary Shares
to be admitted to trading on AIM and dealings are expected to commence on 6
December 2007.



W.H. Ireland Limited, the Company's Nominated Adviser (in the absence of an
independent director of Crucial Plan) consider that the terms of the
subscription by Minmet (Isle of Man) Limited are fair and reasonable insofar as
its shareholders are concerned.



In line with its stated aim of continuing to seek the right opportunities for
Crucial Plan and its group, the Company plans to utilise this money to fund the
investigation of such opportunities.



This fundraising does not form part of the #1,000,000 proposed fundraising
announced by the Company on 31 October 2007.  The Company is still looking to
raise a further #1,000,000 and the Directors' current expectations are that
#500,000 of this money will be received in December 2007.



Crucial Plan also announce that today, Bamb Investments Limited, a company of
which Peter Maddocks is both a director and the sole shareholder, has exercised
its right to convert all of the balance of its outstanding loan to the Company
of #111,000 pursuant to the terms of a convertible loan agreement dated 27 June
2007, resulting in the issue and allotment of 6,342,857 Ordinary Shares at a
price of 1.75 pence per Ordinary Share (the "Loan Conversion"). Of the 6,342,857
shares issued 600,201 have been issued and allotted to unrelated parties leaving
Bamb Investments Limited with a total holding of 5,742,656 Ordinary Shares.
Application has been made for these Ordinary Shares to be admitted to trading on
AIM and dealings are expected to commence on 6 December 2007.



The Directors (other than Peter Maddocks) consider, having consulted with its
nominated adviser, WH Ireland Limited, that the terms of the Loan Conversion are
fair and reasonable insofar as its shareholders are concerned.



Following this share issues described above, the Company will have a total of
38,362,302 Ordinary Shares in issue.



Following the above transactions, Peter Maddocks, a Director, will be interested
in 9,075,989 Ordinary Shares which represents 23.66% of the issued share capital
of the Company.  5,742,656 of these Ordinary Shares, are registered in the name
of Bamb Investments Limited, a company of which Peter Maddocks is both a
director and the sole shareholder.  3,333,333 of these Ordinary Shares are
registered in the name of Minmet (Isle of Man) Limited, a company in which Peter
Maddocks is a director.





For further information please contact:


Mike Neville, Director  Crucial Plan Plc                    07775 606 175

David Youngman          W.H. Ireland Limited                0161 832 2174








                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

IOEURRORBARAOAA

Crucial Plan (LSE:CPN)
Graphique Historique de l'Action
De Fév 2025 à Mar 2025

Crucial Plan (LSE:CPN)
Graphique Historique de l'Action
De Mar 2024 à Mar 2025