Craven House increases stake in Pressfit Holdings

Craven House Capital has agreed to buy 10,093,556 shares in Pressfit Holdings - 32.5% of the total - from existing shareholders at 12.84p apiece, around Â£1.3m.

This is conditional upon the shareholders subscribing for 103,963,626 new ordinary shares in Craven House for 1.25p per share, approximately Â£1.3m.

This investment follows the company's previous investments into Pressfit in January and September last year.

Craven House now owns 36.9% of Pressfit with a further 3% of the share capital available should Craven House choose to convert the outstanding convertible loan made to Pressfit in September.

At 9:00am: (LON:CRV) share price was +0.11p at 0.58p

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01/06/2012