KIN NW1 loan4 Jan 2018 15:31
Loan converted at 50p
Under the terms of the CVA, the amounts due to each of the Creditors were capitalised by the issue of such number of ordinary shares of 0.0001p, credited as fully paid up at 0.01p per share, as has a value equal to the amount of the debt for which they prove. The amount owed to Creditors stands at GBP2,302,002.94, which were capitalised into 23,020,029,400 ordinary shares of 0.0001p, issued credited as fully up at 0.01p per share. Following the Consolidation, 4,604,006 ordinary shares of 0.5p will be issued to Creditors under the CVA, credited as fully paid up at 50p per share.