EFD Eatonfield

TIDMEFD

RNS Number : 1707K

Eatonfield Group plc

11 July 2011

Eatonfield Group plc ("Eatonfield", "the Company" or "the Group")

Re: Eatonfield Developments Limited - appointment of liquidator

The board of Eatonfield announces that at a meeting held on 8 July 2011 of the creditors of Eatonfield Developments Limited ("EDL", the Company's wholly-owned subsidiary), Zolfo Cooper LLP was appointed as liquidator to EDL.

The majority of the Group's property assets are owned by EDL and are subject to bank loans from various senior lenders. Under the loan arrangements in place, these properties are each subject to separate legal charges in favour of the relevant lenders and, in respect of some of these properties, Law of Property Act receivers have now been appointed. The board is in discussions to establish whether Eatonfield can assist certain of the lenders in realising the value of their security. A further announcement will be made in due course.

For further information please contact:

 
 Eatonfield Group plc                    Tel: +44 (0)1829 261 910 
 Brian Corfe (Executive Chairman) 
 Rob Lloyd (Group Chief Executive) 
 Duncan Syers (Group Finance Director) 
 
 Evolution Securities Limited            Tel: +44 (0)113 243 1619 
 Joanne Lake/Peter Steel 
 
 Optiva Securities Limited               Tel: +44 (0)203 137 1904 
 Jeremy King 
 
 Threadneedle Communications               Tel: +44 (0)207 653 9850 
 Graham Herring/John Coles 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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