RE: CyanConnode receives $7.5 million Unsecured Convertible Loan Note .....20 May 2025 08:32
Put whatever spin on it you like LTI but read carefully
"Conversion: If the Loan Note has not been redeemed during its Term, the principal, together with any accrued but unpaid interest, may be converted after the 60-month maturity date into equity in CyanConnode or one or more of its subsidiaries, associates, or group companies. Conversion is at the election of the Lender but subject to mutual agreement with the Company regarding the conversion price and the entity or entities into which it may convert. Any conversion into CyanConnode equity shall not result in a breach of Rule 9 of the UK Takeover Code"
We had all better hope this loan is settled. Potential takeout in disguise if not.