Take a look at the AGM statement.Pretty positive ! Could double your money the way penny stocks are going !

RNS Number:6884M
CFA Capital Group PLC
24 June 2003



24 June 2003

CFA Capital Group Plc
("CFA" or "the Company")

Annual General Meeting


Placing of 120,000,000 new ordinary shares at 0.25p per share


Annual General Meeting


At the Annual General Meeting of the Company held today all resolutions were
passed and the Chairman, Stephen Barclay, made the following statement:


"We are now actively developing our client base and completing transactions on a
regular basis following a start-up period where we have established the core
business and built a strong reputation of providing financial services in the
smaller company arena. We have invested in bringing together a balanced and
experienced team that operates efficiently in a controlled cost base
environment, which we believe is key in driving the business forward.


There have been a number of developments in recent months that have placed us in
a position to build on our initial success. We completed the sale of our
execution only broking business so that we could focus our activities on our
expanding advisory services. City Financial Associates Limited is now able to
service clients as a one-stop shop and operating as a traditional issuing house.
We have a number of mandates in hand which include two IPO's, two NOMAD client
financial restructurings and a further two reverse transactions. These are in
addition to the Company's existing ten clients that we act for as Nominated
Advisor, an area that we anticipate expanding on in forthcoming months.


We are positive about the future. We see our loss-making period coming to an
end and with activities in hand, positive cash flow in the second half.


In order to provide sufficient working capital and resources to support the next
stage of our development, supported by executive directors and staff, we have
raised additional funds by way of a placing."


Placing of 120,000 new ordinary shares


The Company has today raised #300,000, before expenses, by a placing of 120
million new ordinary shares in the Company at 0.25p per share. Application has
been made for 120 million new ordinary shares to be admitted to trading on AIM
and dealings are expected to commence on 30 June 2003.


Stephen Barclay, Executive Chairman, and John Shaw, Deputy Chief Executive, have
acquired, in aggregate, 19.8 million new ordinary shares in the placing and
their resulting interests in the Company are as follows:



Name of Director Number of Ordinary Shares % of Ordinary Shares

held following placing held following placing
Stephen Barclay 64,600,000 11.7%
John Shaw 29,400,000 5.3%



Stephen Barclay and John Shaw are considered to be acting in concert together
with certain other parties, as detailed in the circular to shareholders dated 21
November 2001. Following the placing, the concert party now holds, in
aggregate, 106.9 million ordinary shares representing 19.3% of the issued share
capital.


Contacts:



CFA Capital Group Plc Tel: 020 7090 7800
Stephen Barclay, Executive Chairman




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