Last checked at 9 Jun 2014 16:29
Hardide plc
("Hardide" or the "Company")
Conversion of Loan Note
Hardide (AIM: HDD), the provider of advanced surface coating technology, announces that it has received notice of conversion from a loan note holder with respect to £100,000 of nominal value of loan note. This will result in the issue of 22,222,222 new ordinary shares of 0.1p each of the Company at a price of 0.45p per share ("New Ordinary Shares"), and payment by the Company of £16,000 in rolled-up interest.
Following this conversion, the Company has outstanding convertible loan notes of £333,000 nominal value, convertible at a price of 0.45p per share.
Application will be made for the New Ordinary Shares to be admitted to AIM and it is expected that dealings will commence on 13 June 2014.
Following the above share issue, the Company will have 1,092,751,304 ordinary shares of 0.1p each in issue. The Company does not hold any ordinary shares in treasury and therefore this figure 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
For further information please contact:
Hardide plc Tel: +44 (0) 1869 353830
Philip Kirkham, CEO
Peter Davenport, Finance Director
finnCap Ltd Tel: +44 (0) 20 7220 0500
Stuart Andrews /Grant Bergman