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19 Sep 2008 07:00
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MILESTONE GROUP PLC
"Milestone" or the "Company"
CONVERSION OF LOAN NOTES
TheΒ CompanyΒ announcesΒ that, followingΒ the receipt ofΒ valid instructionsΒ from TRMK Estate Income LimitedΒ ("TRMK")Β and CMH Management LimitedΒ ("CMH"),Β the Board today agreed to aΒ conversion of loan notes to the aggregate value of Β£37,500 plus accrued interest. The BoardΒ hasΒ approved theΒ issueΒ ofΒ 2,273,489 Ordinary Shares and 1,136,734 Ordinary Shares to TRMK and CMH respectivelyΒ in accordance with the terms of the Company's Loan Note Instrument.
The Company has todayΒ madeΒ application forΒ 3,410,223Β new Ordinary SharesΒ to be admitted toΒ trading onΒ AIM, withΒ admission anticipated onΒ 26 September 2008.Β The shares willΒ rank pari passu with all existing 0.1p Ordinary Shares of the Company. Post-admission the total issued share capital of the Company will increase to 52,890,319Β (excluding deferred shares which have no rights attached to them).
Under the terms of the Loan Note Instrument, the Company may issue a further Β£962,500 loan notes at any time prior to 31 July 2011.Β There areΒ currentlyΒ no loanΒ notes inΒ issue.
For further information:
|
Milestone |
|
|
Deborah White, Chief Executive |
Tel: 020 7648 1043Β |
|
Arden Partners plc |
Tel: 020 7398 1632 |
|
Richard Day |
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