Katoro Gold PLC - gold and nickel exploration and development company - Receives further notices from clients of SI Capital, the company's broker, to convert GBP17,000 of the convertible loan notes at a conversion price of 1.4 pence per share. As a result, the company says it will issue 1.2 million new shares, and following the conversion, the convertible loan notes will have been settled in full with no outstanding balance remaining. The convertible loan notes accrue interest at 20% per annum on a daily basis and the total accrued interest relating to the foregoing conversions amount to GBP3,391 which will be settled in cash.
Current stock price: 2.30 pence, up 2.2% on Tuesday
Year-to-date change: unchanged
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Katoro Gold (KAT)