MAP MG Capital

    RNS Number : 7647X
  MG Capital PLC
  27 June 2008
   

    27 June 2008

    MG Capital plc ("MG Capital" or "the Company")

    Issue of convertible loan notes

    MG Capital has issued �120,000 of convertible loan notes to Peter Hannen, the Company's Chairman.  The loan stock has been subscribed
for in cash at par value.  The loan notes carry interest at the rate of 6.5 per cent. per annum and have a life of three years. The Company
may redeem them at any time during that period or, at the option of the holder, they may be converted into new ordinary shares in the
Company.  The conversion price is the higher of either the nominal value of the ordinary shares or the average mid market price of the
ordinary shares during the 5 business days prior to the date on which notice of conversion is given.

    With the exception of Mr Hannen, who is involved in the transaction as a related party, the directors of MG Capital consider, having
consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are
concerned.

    -End-
    Enquiries:

    Charles Fowler, MG Capital plc                        020 7332 2040

    Hugh Oram, Nabarro Wells & Co. Limited        020 7634 4705


This information is provided by RNS
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