Napster Group PLC Conversion of Loan Notes and Issue of Equity (5247B)
June 10 2021 - 8:06AM
UK Regulatory
TIDMNAPS
RNS Number : 5247B
Napster Group PLC
10 June 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014, as it
forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 .
Napster Group PLC
("NAPS" or the "Company")
Conversion of Loan Notes and Issue of Equity
Napster Group PLC (AIM:NAPS), a leading music company and
operator of the MelodyVR and Napster platforms, announces that it
has received a notice of exercise from Nice & Green S.A (the
"Investor") in respect of the issue of Convertible Loan Notes
("Loan Notes") (as announced on 14 April 2021). This conversion
notice follows from the Company having issued a total of
GBP5,840,000 Loan Notes to date under the previously announced
investment agreement with the Investor under which Loan Notes with
an aggregate value of GBP8.0 million will be issued.
As a result of this conversion notice GBP2,300,000 Loan Notes
have been converted in to 130,164,120 ordinary shares (the
"Conversion Shares") at a conversion price of 1.767p in accordance
with the terms of the Loan Notes.
Application will be made for the Conversion Shares to be
admitted to trading on AIM with admission expected to take place on
or around 16 June 2021. The Conversion Shares will rank pari passu
in all respects with all existing ordinary shares in the Company
.
Following admission of the Conversion Shares, the Company's
enlarged issued share capital will comprise 2,760,945,548 ordinary
shares with voting rights. This figure may be used by shareholders
in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest
in, or a change to their interest in, the share capital of the
Company under the Financial Conduct Authority's Disclosure Guidance
and Transparency Rules.
For further information please contact;
Napster Group PLC email@napster.group
Anthony Matchett, Group CEO
Arden Partners plc: Tel: +44 (0) 20 7614
Nominated Advisor and Broker 5900
Corporate Finance: Ruari McGirr / Antonio
Bossi / Akhil Shah
Corporate Broking: Simon Johnson
Equitory napster@equitory.com
Clara Melia/Geoff Callow
www.melodyvr.com
www.napster.com
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END
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