Malcy Comment20 Apr 2020 14:12
Angus Energy
Angus has issued a 4%, £1.4m convertible to Knowe Properties, a 10% equity holder in the company. This is a very wise move indeed as it enables Angus to repay the Riverfort loan, immediately by £250,000 and being able to alter the remaining terms significantly in their favour. This is good news for Angus, it comes at a difficult time to raise money and it reduces the impact of the Riverfort deal as well as strengthening the company’s capital base.