Napster Group PLC - London-based music streaming company - Receives notice from Nice & Green SA on the conversion of loan notes, leading to GBP2.2 million of loan notes being converted to 200.0 million shares at a price of 1.08 pence per share.
In addition, Chief Technology Officer Mark Kortekaas has subscribed for 2.0 million shares at a price of 1.40p each.
Napster now has 2.96 billion shares issued overall.
"This investment signals my confidence in our business, its vision for the future and in the anticipation of the ambitions which have been set out publicly for our new strategy," says Kortekaas.
Current stock price: 1.31p, down 5.4%
Year-to-date change: down 66%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.