LONDON (Alliance News) - Plethora Solutions Holdings PLC said Monday that Forest Nominees Ltd has opted to convert all GBP800,000 of its convertible loan notes into shares.
Interest of GBP176,132 has been accrued on the loan notes, and will be converted to new shares. Plethora will issue a total of 48.8 million shares to satisfy the conversion.
Following this issue, the nominal value of outstanding convertible debt issued by the company will fall by GBP800,000 to GBP1.97 million, the company said.
Shares in Plethora were trading down 4.2% at 7.78 pence Monday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
