Gunsynd PLC - London-based investment company focused on the natural resources sector - Agrees to conversion of GBP396,635 of its GBP498,575 loan note into 10 million shares in spirits company Rogue Baron at a price of 0.0397 pence per share, which represents a 20% stake in Rogue Baron Ltd. Gunsynd says it intends to convert the remainder of the loan note upon admission of Rogue Baron's shares to trading on the Aquis Stock Exchange Growth Market.
"The conversion of the remainder of the loan note would be at such price as would affect the average conversion price of the whole loan note, with the effect being that Gunsynd would convert the entire loan note at an average price per share determined by dividing GBP1.6 million by the total number of ordinary shares in Rogue Baron in issue on initial public offering," says Gunsynd.
Current stock price: 2.15 pence
Year-to-date change: up 8.2%
By Zoe Wickens; zoewickens@alliancenews.com
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Gunsynd (GUN)