A TARPORLEY based commercial property developer and house builder has raised almost £8m through new share issue to help it fight its way back from recession.
The AIM listed Eatonfield Group, based on Peckforton Hall Lane, Spurstow has announced it has raised an additional £7.9m from existing and new investors by releasing 208,820,000 new ordinary shares.
Chief executive Rob Lloyd said the share issue had strengthened the company’s balance sheet and left the firm well placed to benefit from the emerging recovery in the UK property sector.
He said: “This announcement is confirmation of the confidence the marketplace has in the group as a result of its capability to overcome the intense financial pressure suffered by most property companies during the recent economic climate.”
