EMMIT PLC - Convertible Loan Conversion and Issue of Equity
July 30 2014 - 11:15AM
PR Newswire (US)
Emmit plc
("the Company" or "Emmit")
Convertible Loan Conversion and Issue of Equity
The Company received a notification from a holder of a Convertible Loan Note
("CLN") that he wished to convert £2,500 of CLN into ordinary shares of the
Company. The CLN converts into shares at a price of 0.5 pence per ordinary
share. As a result of the conversion the Company will issue 500,000 new
ordinary shares.
The 500,000 new ordinary shares will rank pari passu with the existing ordinary
shares. Application will be made for the 500,000 ordinary shares to be traded
on AIM. Admission to AIM of the 500,000 shares is expected to occur on or
around 5 August 2014.
Following the issue of equity noted above the total issued share capital of the
Company will comprise of 5,693,763 ordinary shares of 0.001 pence each.
Following the loan note conversion detailed above the Company has £55,437.40 of
outstanding Convertible Loan Notes that can convert into 11,087,480 new
ordinary shares in the Company.
The Company also has a total of 6,200,000 shares under warrants, 400,000 of
which may be exercised at a price of 0.001p per share and 5,800,000 warrants
can be exercised at a price of 6p per share.
For further information please visit www.emmitplc.com or contact:
Emmit plc Dean Cook 01473 604504
Cairn Financial Advisers LLP Liam Murray 020 7148 7900
Nominated Adviser
Alexander David Securities David Scott 0207 448 9820
Limited
Broker
Copyright y 30 PR Newswire
Emmit (LSE:EMT)
Historical Stock Chart
From Dec 2024 to Jan 2025
Emmit (LSE:EMT)
Historical Stock Chart
From Jan 2024 to Jan 2025