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Replacement:Loan Notes Conversions&Issue of Equity

4 Mar 2015 16:30

RNS Number : 5667G
Insetco PLC
04 March 2015
 

This replaces the announcement made (RNS: 5598G) at 15:21 on 4 March 2015 which in error inverted the names "ADM Investor Services International Limited" and "Zentar Securities Ltd".

 

All other details remain the same. The full amended text is shown below.

 

 

4 March 2015

 

Insetco plc

("Insetco" or the "Company")

 

Loan Note Conversions and Issue of Equity

 

 

The Company advises that it has received the following requests to convert loans into shares:

 

Shareholder

Amount

Conversion Price

New Ordinary Shares

ADM Investor Services International Limited

 

£10,000

0.025p

40,000,000

Zentar Securities Ltd

£62,500

0.025p

250,000,000

 

Following the requests for conversion, the Company will have a total of £35,000 of convertible loans outstanding, comprising £10,000 which can convert at 0.025p per share and £25,000 which can convert at 0.1p per share, resulting in a maximum issue of new equity of 65,000,000 new ordinary shares.

 

In addition to the amounts stated above, as advised on 29 December 2014, the Company is still in discussions with a holder of unsecured loan notes totalling £40,000 to vary the terms of this loan.

 

Issue of Equity

 

Application will be made for admission of 290,000,000 new ordinary shares in the Company to the London Stock Exchange which is expected to occur on or around 10 March 2015. The new ordinary shares will rank pari passu with the existing ordinary shares.

 

Total Voting Rights

 

Following the issue of equity described above, the so enlarged issued share capital of the Company will comprise 1,480,449,762 ordinary shares of 0.001p each. Each ordinary share carries the right to one vote at general meetings of the Company. The Company does not have any ordinary shares in treasury.

 

This may be used by shareholders 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 Company under the FCA's Disclosure and Transparency Rules.

 

Insetco plc

Barry Heath

07788 376480

Ivan Couchman

07970 377669

Cairn Financial Advisers LLP

Jo Turner / Liam Murray

020 7148 7900

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IOEUSUNRVAAORAR
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