Yesterdays rns highlights17 Sep 2013 10:52
Bull..
On all funds drawn-down, coupon of 7.5% per annum payable through the issuance of new shares in the Company to the Lenders at a price of 0.75p per new share.. So both the bod and these investors see a minimum 0.75 in the short term...
Loan Facility is provided in equal part by Jim Stewart, Mike Douglas and Stanhill Capital Partners and associates, each holders of 13.26% of the issued share capital of the Company.. Meaning they now hold a significant amount between them all.
Peter Moss.. "I look forward to providing shareholders with further updates in the near future, as they become available." NEWS TO COME NEAR FUTURE.
Bear..
In consideration for the provision of this facility, grant of warrants over 21,000,000 ordinary shares of the Company to the Lenders, exercisable until 16 September 2018 at 0.45p per new share