RE: Placing..22 Mar 2018 15:25
Milestone (AIM:MSG), the AIM quoted provider of digital media and technology, announces that it has agreed to issue a total of 116,666,669 new ordinary shares of 0.1pence per share in the Company at a price of 0.15 pence per share.
The Company will raise �145,000 in cash through the issue of 96,666,667 Subscription Shares and will settle an existing creditor balance of �30,000 through the issue of 20,000,000 Conversion Shares.
The 116,666,669 new ordinary shares will rank pari passu with the existing ordinary shares of Milestone. Application will be made for the 116,666,669 ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 23 March 2018.
Unsecured Convertible Loan Note
The Company also announces that it has raised �105,000 (which would convert in up to 70,000,001 Loan Conversion Shares by way of a convertible loan at a price of 0.15 pence per share, the convertible loan note is interest-free and can be repaid by the Company at any time prior to 31 March 2019.
Warrants are exercisable at .25 way above current SP and above my average so I await news to take us to at least this price.
GL.