(Alliance News) - W Resources PLC on Wednesday said it has received a notice from Atlas Capital Markets to convert a further GBP100,000 of convertible bonds into shares.
The tungsten, tin and gold miner has a GBP4 million convertible bond facility with investor Atlas, which holds a 5% coupon and a three-year term.
W Resources will issue 1.6 million shares at the conversion price of 6.44 pence, including an element of accrued interest. Shares in W Resources were down 3.3% in London on Wednesday at 7.30p each.
Atlas last issued a conversion notice to W Resources in March for GBP100,000.
By Josie O'Brien; josieobrien@alliancenews.com
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