Catena Group PLC Proposed equity subscription and conv loan note (7709E)
March 03 2020 - 2:01AM
UK Regulatory
TIDMCTNA
RNS Number : 7709E
Catena Group PLC
03 March 2020
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
3 March 2020
Catena Group PLC
("Catena" or the "Company")
Proposed equity subscription and issue of convertible loan
note
Catena Group plc (AIM: CTNA), the AIM listed investment vehicle,
announces its intention to conduct a conditional subscription of
not less than 4,000,000 new ordinary shares of 1 pence each in the
Company ("Ordinary Shares" and "Subscription" respectively) at a
price of not less than 25.0 pence per share to raise a total of not
less than GBP1 million. In addition, the Company has constituted a
GBP2 million convertible loan note ("Loan Note") of which GBP0.5
million loan notes are intended to be issued as part of this
fundraising ("Notes"). The net proceeds of the Subscription and the
issue of the Notes will be used to finance the proposed investment
in Insight Capital Partners Ltd as set out in the announcement
released at 7.00 a.m. today, and any balance for general working
capital purposes.
Under the terms of the Loan Note, loan notes issued have a three
year term (commencing on the date of the Loan Note), bear no
interest and are convertible into Ordinary Shares, at a price of 25
pence per share, at any time by the holder and will automatically
convert into Ordinary Shares on the occurrence of certain events.
If not converted and at the end of the three year term, any loan
notes issued under the Loan Note will be redeemed by Catena at
par.
* ENDS *
This announcement has been released by Matthew Farnum-Schneider,
Chief Executive, on behalf of the Group.
For further information, please visit www.catenagroup.co.uk or
contact:
Catena Group PLC
Matthew Farnum-Schneider +44 (0)20 3743 2543
Cantor Fitzgerald Europe (Nomad and Broker)
David Foreman/Michael Boot/Adam Dawes +44 (0)20 7894 7000
St Brides (Financial PR)
Catherine Leftley/Beth Melluish +44 (0)20 7236 1177
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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