CVL Conival

RNS Number:8826X
Conival plc
06 June 2007


                    Conival plc ("Conival" or "the Company")

                           Convertible Loan Agreement

Conival (AIM: CVL), the specialist branded food and beverage company, is pleased
to announce that it has entered into a convertible loan agreement ("the
Agreement") under which the Company has been provided with a facility of up to
#500,000 ("the Loan") by a significant shareholder, Corvus Capital Inc ("Corvus
").  The Agreement replaces all previous agreements in relation to amounts
previously advanced to Conival amounting in aggregate to #400,000. Under the
terms of the Agreement, Corvus may, at its sole discretion, convert the Loan
into new Conival ordinary shares of 0.5p each at par.  Corvus may at any time
assign or transfer all or any of its rights and obligations under the Agreement
and if it does not elect to convert the Loan by 31 May 2008, the Loan together
with any interest accrued, at 2 per cent per annum, will thereafter be repayable
on demand.  The net new funds raised, amounting to #100,000, will be applied to
working capital for the Company.

Corvus holds 33.14 per cent. of the issued share capital of Conival and
accordingly is deemed to be a related party of Conival under the AIM Rules. The
directors consider, having consulted with WH Ireland, the nominated adviser of
Conival, that the terms of the transaction are fair and reasonable insofar as
Conival's shareholders are concerned.


Enquiries:

Conival Plc

Jeremy Schwartz, Chief Executive                        0870 389 6999

John Bick                                               07917 649 362

W.H. Ireland

Tim Cofman/Nicola Rayner                                0121 616 2101



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

Grafico Azioni Conival (LSE:CVL)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Conival (LSE:CVL)
Storico
Da Giu 2023 a Giu 2024