Today RNS.....Big SAVING for CLP!14 Apr 2021 12:27
We had loan from Eufingest for €3,423,707 which was converted into new Zero Coupon Bond (the “New Bond”) with a maturity date of 15 December 2022 a face value of €3,500,000 and an implicit yield to maturity of 1%. This is loan could have been convert at 1p.
We will only pay £825,000 and a SAVING OF €2,598,707 + saving us from a MASSIVE dilution at 1p.
The current dilution is at 2.5p. Hence,
1.13 new shares x 2.5p = 2.825 = £2,825,000 new cash!
Our CEO has SAVED us MILLIONS of pounds over the last few months.