Cleardebt Group PLC
29 December 2006
ClearDebt Group plc
Directors'and other material interests
Further to the announcement made by ClearDebt Group plc (the 'Company') on 21
December 2006 regarding the issue of new ordinary shares of 2p each ('Ordinary
Shares') to Sound Financial plc ('Sound Financial') to raise £1,000,000 (before
expenses) (the 'Subscription'), the Company announces that 31,746,031 Ordinary
Shares have now been allotted to Sound Financial at a price of 3.15p per share.
The new Ordinary Shares will rank pari passu with the existing Ordinary Shares
in issue and bring the total number of Ordinary Shares in issue to 288,840,567.
David Mond, a director of the Company, is a director of Sound Financial and is
interested in 22.99% of the issued share capital of Sound Financial.
The Subscription is classified as a related party transaction under the AIM
Rules. With the exception of David Mond, who is involved in the transaction as
a related party, the directors of the Company consider, having consulted with WH
Ireland Limited, the Company's nominated adviser, that the terms of the
transaction are fair and reasonable insofar as its shareholders are concerned.
Sound Financial is now interested in 61,583,259 Ordinary Shares, representing
21.32% of the enlarged issued share capital of the Company.
For further information, please contact:
David Mond, ClearDebt Group plc Tel: 0161 228 7444
David Youngman, WH Ireland Limited Tel: 0161 832 2174
Paddy Blewer, College Hill Associates Tel: 020 7457 2074
This information is provided by RNS
The company news service from the London Stock Exchange
