Arria NLG PLC Update on issue of convertible notes & warrants (1498G)
November 18 2015 - 6:54AM
UK Regulatory
TIDMNLG
RNS Number : 1498G
Arria NLG PLC
18 November 2015
18 November 2015
Arria NLG plc
("Arria" or the "Company")
Update on issue of convertible loan notes and warrants
The Board of Arria (AIM: NLG), a leader in the development and
deployment of Natural Language Generation technologies, announces
that following the announcement on 6 November 2015, Arria has
completed the issue of GBP3.33 million of the GBP3.75 million in
convertible loan notes and associated warrants announced on 30 June
2015 (the "June Fundraise"). The balance of GBP0.42 million was
underwritten by MSL Capital Markets Limited ("MSL"), the lead
manager on the fundraising, and Arria is discussing with MSL how
they will complete their underwriting obligation. Further updates
will be announced in due course.
The number of warrants to be issued as part of the June
Fundraise is calculated on the basis of two warrants to every US
dollar subscribed in loan notes and is therefore dependent on the
US dollar exchange rate against sterling. The Company confirms that
the GBP3.33 million in proceeds received to date from the June
Fundraise has resulted in the issue of 11,585,476 B warrants, the
terms of which are set out in the Company's announcement on 30 June
2015. This includes 1,000,000 B warrants that have been issued to
MSL pursuant to the June Fundraise and as announced on 6 November
2015. The B warrants are not admitted to trading on any stock
exchange and are in addition to the 10,085,533 warrants already in
issue and traded on AIM.
As a result of the above issue of GBP3.33 million of loan notes
in the June Fundraise, the Company now has a total of GBP4.562
million of convertible loan notes outstanding, which are
convertible into 11,405,000 new ordinary shares in the Company.
For further information, please visit www.arria.com or
contact:
Arria NLG plc Tel: +44-20-7100-4540
Stuart Rogers - Chairman ext 1040
& Chief Executive
Allenby Capital - Nominated Tel: +44 (0) 20 3328
Adviser & Joint Broker 5656
Nick Naylor / Jeremy Porter
/ James Reeve
MSL Capital Markets - Lead Tel: +64 (0) 4 472
Manager 2716
Andrew McDouall / Justine
Dunnett / Peter Lynds
Westhouse Securities - Tel: +44 (0) 20 7601
Joint Broker 6100
Antonio Bossi / Robert
Finlay
IFC Advisory - Financial Tel: +44 (0) 20 3053
PR and IR 8671
Tim Metcalfe / Graham Herring tim.metcalfe@investor-focus.co.uk
graham.herring@investor-focus.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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