NFND Newfound

RNS Number:2823H
Newfound N.V.
08 November 2007


                                 Newfound N.V.
                         ("Newfound" or the "Company")

                               Fundraising update


Newfound announces an update regarding its proposals to obtain finance for the
Company.


As announced in its interim results on 26 September 2007, the Company has for
some time been seeking to finalise a loan facility of some US$21 million for the
Humber Valley Resort to provide working capital for its development and for the
Group.  The Company has since been in discussions with a number of suitable debt
providers. The Company has not been able to obtain a firm commitment from any of
these debt providers and without securing alternative arrangements, the Company
cannot be certain that it will be able to continue to meet its obligations.


Accordingly, the Company is proposing a subscription of new shares by Directors
at a significant discount to market price to raise #5 million to secure its
financing requirements for the near term.  The Board is confident that this
proposal by the Directors will be achieved and further details will be announced
imminently.


The proposed fundraising will be conditional upon shareholder approval and will
constitute a series of related party transactions for the purposes of the AIM
Rules due to the interests of the Directors in the proposals.


For further information, please contact:


Newfound N.V.

John Theophilus                                      +44 (0)20 7470 2487

Collins Stewart

Adrian Hadden                                        +44 (0)20 7523 8353


ENDS


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

MSCUWSARBRRARAA

Newfound (LSE:NFND)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

Newfound (LSE:NFND)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024