FRE Freeplay

    RNS Number : 5209A
  Freeplay Energy PLC
  04 August 2008
   

        4 August 2008

    Freeplay Energy plc
    ("Freeplay" or "the Company")

    Completion of Disposal of Freeplay Division and Board Changes

    Freeplay Energy plc is pleased to announce that, following approval from the Reserve Bank
    of India and approval by shareholders at a General Meeting on 27 June 2008, it has completed the
    disposal of its Freeplay Division ("Freeplay Energy") to Devinder Raj Narang. The total
    consideration is $14.5 million, subject to adjustment, and includes the assumption of approximately
    $5 million of bank debt.

    Following the disposal and sale of the rights to the Freeplay name and associated trade marks, it has been agreed that Freeplay has
changed its corporate name to Fieldbury plc ("Fieldbury").  

    The Company's shares will continue to be traded on AIM under Fieldbury plc and will have a new RIC code, FIE.L, that will come in to
effect during the week beginning Monday 4th August.  The Company's corporate website will change to www.fieldbury.com.

    As a result of the disposal of Freeplay Energy, Dixie Sales will be the sole company within Fieldbury.  

    Board Changes
    In addition, Colin Batt, Finance Director of Freeplay Energy plc, and David Floyd, Managing Director
    of Freeplay Energy, will resign as directors of Fieldbury but will continue to be employed by
    Freeplay Energy.

    Rory Stear, Executive Chairman will continue as a Director of Fieldbury and Chairman of the Board
    and will also continue to chair Freeplay Energy.

    Harold Reiter will become Finance Director of Fieldbury and will also remain Chief Executive Officer of the Group's Dixie Sales
division.

    - ENDS -

    For further information, please contact:

 Freeplay Energy plc                             020 7935 5226
 Rory Stear, Executive Chairman

 Weber Shandwick Financial                       020 7067 0700
 Louise Robson or James White

 Charles Stanley Securities (Nominated Adviser)  020 7149 6000
 Mark Taylor or Freddy Crossley



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