MetalNRG PLC - London-headquartered natural resources investing company - entered into an agreement via its brokers, SI Capital and Peterhouse Capital, in relation to the issue of up to GBP375,000 of convertible loan notes. All MetalNRG Directors have participated in the issue. The convertible loan notes are fixed rate, unsecured loan notes carrying a simple, non-compounding interest rate of 10% per annum, with an expiry date of January 31 next year. Holders of the convertible loan notes may convert them into new MetalNRG shares at a price of 0.6 pence or at 85% of the average published volume weighted average share price over the 10 trading days prior to conversion.
Current stock price: 0.48 pence
Year-to-date change: down 13%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Metalnrg Plc (MNRG)