Last checked at 17 Oct 2019 09:55
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Craven House Capital plc
("Craven House" or the "Company")
Issue of Equity
Craven House Capital (AIM:CRV) announces that the board has received notice that GEM Global Yield Fund LLC, a member of the New York based Global Investments America ("GEM"), wishes to exercise an option to convert $100,000 worth of a convertible loan note. GEM previously held the convertible loan note with a principal of $750,000, of which now $650,000 remains outstanding. The loan note bears no interest and has a five year term. The note holder has the right to convert the note at any time prior to maturity.
Henceforth, the Company has allotted 48,500 ordinary shares of $1.00 in the capital of the Company ("Ordinary Shares") at the conversion price of $2.06 per share.
Application will be made for the admission to trading on AIM ("Admission") for the 48,500 new Ordinary Shares. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. Admission is expected at 8.00 a.m. on or around 23 October 2019.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 2,580,448 Ordinary Shares which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.
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For further information please contact:
Craven House Capital Plc Mark Pajak www.Cravenhousecapital.com
| Tel: 0203 286 8130
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SI Capital Broker Nick Emerson www.sicapital.co.uk | Tel: 01483 413500 |
SPARK Advisory Partners Limited Nominated Adviser Matt Davis/Mark Brady www.Sparkadvisorypartners.com |
Tel: 0203 368 3550
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About Craven House Capital:
The Company's Investing Policy is to invest in or acquire a portfolio of companies, partnerships, joint ventures, businesses or other assets globally in any geographic jurisdiction. The company will invest in both developed and developing markets providing long term patient capital and is often involved in special situations, restructuring, expansion and turn around investments in crisis and transitioning economies.