Levrett PLC Convertible Loan Agreement (7948C)
April 20 2017 - 2:00AM
UK Regulatory
TIDMLVRT
RNS Number : 7948C
Levrett PLC
20 April 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO UNITED STATES NEWS WIRE SERVICES
OR IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE UNITED STATES OF
AMERICA OR SOUTH AFRICA OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS ANNOUNCEMENT.
For Immediate Release 20 April 2017
Levrett Plc
("Levrett" or "the Company")
Convertible Loan Agreement
Levrett, a Company formed to acquire a target company with
realisable or developed commercial technologies in the
pharmaceutical and biotechnology sector, announces that it has
entered into a Convertible Loan Agreement for GBP200,000 ("Loan")
with a private investor.
The Loan is for a fixed term of 12 months and carries interest
at 9% per annum, which the Lender can elect to convert. The Loan is
convertible into new Ordinary Shares in the Company at a price of 4
pence per share ("Conversion"), and following Conversion the Lender
will be granted a one-for-one warrant to subscribe for new ordinary
shares at 4 pence per share, exercisable for a period of three
years from Conversion. Under the terms of the Loan, the Lender will
advance the total sum to the Company within three business
days.
The proceeds from the Loan are to be used for general working
capital and to support Nuformix Limited in the short-term pending
completion of the potential reverse takeover as announced by the
Company on 16 September 2016. The acquisition remains conditional,
inter alia, on consent from the UK Listing Authority for the
readmission of the combined entity to the Standard List.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Levrett Plc
Pascal Hughes, CEO +44 (0) 20 7183 4342
Whitman Howard Limited (Broker
and Corporate Advisor)
Niall Baird / Nick Lovering +44 (0) 20 7659 1234
Gable Communications Limited +44 (0) 20 7193 7463
(Financial PR) +44 (0) 7872 061007
John Bick e: levrett@gablecommunications.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
IODGMGMDMLVGNZZ
(END) Dow Jones Newswires
April 20, 2017 02:00 ET (06:00 GMT)
Levrett (LSE:LVRT)
Historical Stock Chart
From Apr 2024 to May 2024
Levrett (LSE:LVRT)
Historical Stock Chart
From May 2023 to May 2024