RE: rooky6 Nov 2020 07:27
No confusion he slice profits and bought warrants Director Dealing, Conversion of CLN and Total Voting Rights
The Company has been notified that Paul Ryan, Non-Executive Chairman of the Company, has elected to convert his entire Convertible Loan Note ("CLN") which was issued on 24 July 2020 into ordinary shares. The CLN was for a principal amount of Β£35,334, has a conversion price of 0.28 pence and a 6% payment in kind coupon. Accordingly, Paul Ryan will be issued with 12,824,042 ordinary shares in the Company ("CLN Shares") in full settlement of the loan and associated interest.
At the same time, Paul Ryan has exercised warrants associated with the CLN representing 12,618,928 ordinary shares in the Company, at 0.28 pence per warrant ("Warrant Shares"). Paul Ryan has also sold 12,821,995 ordinary shares in the Company.
Following these transactions, Paul Ryan's shareholding in the Company will increase to 67,593,249 shares in the Company, representing 4.41% per cent. of the enlarged issued share capital and total voting rights of the Company.