19 Oct 2010 08:54
| Date: | 19 October 2010 |
| On behalf of: | Advanced Power Components PLC ('APC' or 'the Company') |
| For immediate release |
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Advanced Power Components plc
Conversion of Loan Notes
Advanced Power Components, the UK specialist distributor and manufacturers' representative of electronic components, announces that it has received a notice of conversion from BNY (OCS) Nominees Limited to convert £68,750 of 8% Unsecured Convertible Loan Notes 2014 into ordinary shares.
Under the terms of the loan notes, the conversion rate is deemed to be the lower of the mid-market price on 10 February 2009, 12.5p, and the average mid-market price for the 14 days following receipt of the notice of conversion.
Application has subsequently been made to admit 550,000 new ordinary shares of 2p each to trading on AIM, such shares to rank pari passu with the existing ordinary shares of the Company. Dealings in the shares are expected to commence on 20 October 2010.
Immediately following the issue of these shares, the Company will have 25,700,928 ordinary shares in issue.
-Ends-
Enquiries:
| Advanced Power Components plc | 01480 226600 |
| Mark Robinson, Chief Executive Officer | www.apc-plc.co.uk |
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| Redleaf Communications | 020 7566 6727 |
| Henry Columbine/ Lucy Salaman | apc@redleafpr.com |
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| Strand Hanson Limited | 020 7409 3494 |
| James Harris/ Angela Peace |
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| Astaire Securities | 020 7448 4400 |
| Ruari McGirr |
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Notes to Editors:
About Advanced Power Components
APC plc is a leading specialist distributor of electronic components, comprising eight areas of activity:
¡ APC Hi-Reldistributes a variety of specialist electronic components into applications where component reliability is of paramount importance. Hi-Rel's franchised product lines include power semiconductors, power supplies, memory, wound and high voltage components.
¡ APC Locator is the number one solutions provider for obsolete and hard-to-find parts, with 25 years' experience in the industrial and defence/aerospace markets across Europe.
¡ APC Hero has a specialist team of Product Managers ready to assist with your next design, our key areas include LEDS/LAMPS, drivers, wireless devices and modules, Zigbee, specialist sensors and crystals (plus fast turn around on programming).
¡ APC Go! provides a kitting and materials management service to companies wanting to outsource non core activities, offering services ranging from material procurement to full production management.
¡ APC Displays+ provides dedicated technical and commercial support for a wide range of LCD`s, standard, custom, TFT, e-signage, character, graphics, driver boards, IC`s, single board computers and all related connectivity.
¡ APC Novacom is a distributor and manufacturers' representative for RF and microwave frequency electronic components. The business is managed by a team of technical specialists with many years experience in the RF and Microwave industry.
¡ APC Contech is a distributor of specialist data input devices for industrial, broadcasting and medical sectors providing technically advanced solutions for specific application areas.
¡ APC KVARis a manufacturer and distributor of power saving equipment which optimises the performance of electrical motors, leading to reduced energy consumption and cost savings.