Tuesday 10.06.2008

Halliwells Advises On Conversion Of Loans Into Equity

Law firm Halliwells has advised Eagle Eye Telematics plc, the provider of integrated telematics technologies, solutions and consulting services to the fleet and risk management markets, in relation to a £2.5 million debt for equity swap.

Halliwells' team was led by partner Charles Glaskie and solicitor Jemma Bolton.

Halliwells advised Eagle Eye Telematics plc on its agreements relating to the satisfaction and full discharge of certain loans to the Company from Ralph Stross (a non-executive director of the Company) Stross Financial Services Limited (a company controlled by Ralph Stross), Stuart Krell (the brother of Terry Krell who is also a non-executive director of the Company) and Belgravia Homes Limited (a company controlled by Melvin Lawson) in exchange for the issue by the Company of new ordinary shares of 0.1 pence (at an issue price of 2 pence per share).

About Halliwells

Halliwells is one of the UK's leading multi-disciplinary law firms with over 1000 people and offices in Manchester, Liverpool, London and Sheffield



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