LONDON (Alliance News) - Cradle Arc PLC said on Thursday that a holder of company issued loan notes has elected to convert its notes into a total of 21.8 million shares through two tranches.
13.5 million shares have been issued at a price of 0.74 pence per share in the first tranches, and 8.3 million shares at 0.9p each were issued in the second.
Following this transaction, Cradle Arc now has 298.2 million shares issued overall.
Shares in Africa-focused precious metals company dropped 14% at 1.40 pence on Thursday.