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  5. IN BRIEF: Genedrive To Issue Shares To BGF After Loan Note Conversion

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Share Price Information for Genedrive (GDR)

London Stock Exchange
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Share Price: 1.475
Bid: 1.45
Ask: 1.50
Change: -0.025 (-1.67%)
Spread: 0.05 (3.448%)
Open: 1.50
High: 1.50
Low: 1.475
Prev. Close: 1.50
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IN BRIEF: Genedrive To Issue Shares To BGF After Loan Note Conversion

Fri, 11th Dec 2020 19:34

Genedrive PLC - Manchester-based molecular diagnostics firm - Notes that BGF Investments LP has exercised its right to convert the remaining GBP1.5 million of its loan note instrument into new shares, leading to Genedrive becoming debt free.

BGF will be allotted and issued 6.7 million shares and will also pay GBP226,000 in cash, reflecting the accrued interest owed on that tranche of the loan.

Following issue, Genedrive will have 63.2 million shares issued overall.

Current stock price: 46.90 pence

Year-to-date change: up sharply from 22.50p

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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