St Helens Finance plc

July 24, 2009 05:11 ET

Issue of Unsecured Convertible Loan Notes

                                                                                      24 July 2009

                                      ST HELEN'S FINANCE PLC
                              ("St Helen's Finance" or "the Company")

                     Issue of Unsecured Convertible Loan Notes ("Loan Notes")

The  Board  of St Helen's Finance Plc, the PLUS quoted independent provider of finance facilities,
is  pleased to announce it has placed and drawn down the first tranche of £500,000 raised via  its
9.5p Unsecured Convertible Loan Note ("Loan Note") as announced on 6th April 2009.

The  Loan  Note  carries  a  coupon of 8.50% with a conversion price of 9.50p,  expiring  on  31st
December 2013.

The Directors intend to use the funds raised from the issue of these Loan Notes for two purposes:-

*   To  facilitate the structure of a subsidiary, formed to enable a new legal sector funding
    product to be launched
*   The  remainder of the funds will be used as expansion capital, to facilitate  the  growth
    across  the identified asset classes and thereby enable the Company to increase the number  of
    transactions within these sectors

Norman Kenvyn, Managing Director, commented:

"We  are  delighted with the support shown by our shareholders and look forward to delivering  our
new funding product and expanding our business."

Rick  Abbott,  Non  Executive Chairman of the Company has subscribed £100,000 into  the  Unsecured
Convertible Loan Note which would equate to 1,052,632 ordinary shares at 9.5p.

In the event of conversion of all £500,000 of the Loan Note 5,263,158 New Ordinary Shares would be

As  announced  on  6th  April  2009 The Directors note that there  are  already  convertible  debt
instruments in place and if all the issued convertible loan notes, including the 9.5p loan  notes,
are  fully  converted and all the staff options are exercised there will be a total of  33,101,467
shares in issue.

The Directors of the issuer accept responsibility for this announcement.



ST  HELEN'S FINANCE PLC                                                     Tel:  020 7628 4004
Norman Kenvyn, Managing Director
Rick Abbott - Chairman

RIVINGTON STREET CORPORATE FINANCE                                          Tel: 020 7562 3373
Leo Godsall

Eran Zucker

BISHOPSGATE COMMUNICATIONS LTD                                              Tel 020 7562 3350
Robyn Samuelson

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