Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRLM.L Regulatory News (RLM)

  • There is currently no data for RLM

Convertible loan notes extension

13 Dec 2011 12:44

RNS Number : 8814T
PuriCore Plc
13 December 2011
 



PuriCore plc

("PuriCore" or the "Company")

 

Extension of Repayment Date of Convertible Loan Notes

 

MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 13 December 2011 - PuriCore (LSE: PURI), the water-based clean technology company focused on developing and commercialising proprietary, green solutions that safely, effectively, and naturally kill infectious pathogens, today announces an extension of the repayment date in relation to the convertible loan notes issued by the Company on 14 June 2010 (the "Convertible Loan Notes"), details of which were announced and set out in a circular to shareholders on 28 May 2010.

 

Following the announcement on 21 October 2011 that the Company was exploring a number of options regarding the Convertible Loan Notes, PuriCore has reached an agreement with the requisite majority of holders of the Convertible Loan Notes for a two-year extension of the repayment date, which will now be 31 December 2013. The Convertible Loan Notes, amounting to £7.95 million, were due to be repaid on 31 December 2011, subject to the holders having the right to convert all or part of their holdings into ordinary shares of the Company at a price (following the consolidation of the share capital on 14 June 2010) of 75p per share. There have otherwise been no other changes to the terms of the Convertible Loan Notes.

 

The Company is currently negotiating additional funding lines and is considering raising further capital. All new funding will be used for market development and general working capital purposes. Any issue of new equity may be undertaken in conjunction with a renegotiation of the Convertible Loan Notes to include a reduction in the conversion price (if appropriate) to reflect market conditions and to provide an incentive for early conversion. Any significant issue of new equity and proposed changes to the conversion terms of the Convertible Loan Notes will be subject to shareholder approval.

 

Enquiries:

FTI Consulting

PuriCore

Susan Quigley

Chris Wightman

Ben Brewerton

Executive Chairman

+44 (0) 20 7831 3113

+44 (0) 20 7290 3440

 

 

About PuriCore

PuriCore plc (LSE: PURI) is a water-based clean technology company focused on developing and commercialising proprietary green solutions that safely, effectively, and naturally kill infectious pathogens without causing harm to human health or the environment. PuriCore's patented, proprietary technology mimics the human body's production of the natural antimicrobial hypochlorous acid, offering a safe and non-hazardous approach to disinfection and sanitisation. The Company's products are used in a broad range of markets that depend upon controlling contamination, including food retail and foodservice, medical device disinfection, and wound care. Hypochlorous acid is proven to be safe, environmentally friendly, and fast acting against a broad range of infectious pathogens, including major public health threats of C.difficile, E.coli, HIV, Human and Animal Influenza (including H1N1 and H5N1), Legionella, MRSA, M.tuberculosis, Norovirus, and Salmonella. PuriCore is headquartered in Malvern, Pennsylvania, with operations in Stafford and Clevedon, UK.

 

To receive additional information on PuriCore, please visit our website at www.puricore.com, which does not form part of this press release.

 

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
AGRLLFSFFVLVLIL
Date   Source Headline
30th Jul 20087:04 amRNSPuriCore Wins Food Safety Con
30th Jul 20087:02 amRNSTrading Update
30th Jul 20087:00 amRNSPlacing and Open Offer
2nd Jul 20087:00 amRNSAwarded Contract
1st Jul 20087:00 amRNSPatent Decision and Debt Fina
26th Jun 200811:34 amRNSAGM Statement
19th Jun 20087:00 amRNSPiper Jaffray European Confer
9th Jun 20087:00 amRNSNatural Resources & Infrastru
2nd Jun 20087:00 amRNSAnnual Report and Accounts
27th May 20087:00 amRNSAnnual Information Update
20th May 20083:48 pmRNSHolding(s) in Company
14th May 200812:19 pmRNSHolding(s) in Company
13th May 20089:07 amRNSDirector/PDMR Shareholding
1st May 200810:06 amRNSDirector/PDMR Shareholding
30th Apr 20084:01 pmRNSDirector/PDMR Shareholding
29th Apr 20087:01 amRNSInterim Management Statement
29th Apr 20087:01 amRNSFinal Results
23rd Apr 20087:01 amRNSPresent Clinical Data
3rd Apr 20087:00 amRNSNotice of Results
21st Feb 20084:20 pmRNSNotice of Interest in Shares
21st Feb 20087:01 amRNSDirector/PDMR Shareholding
20th Feb 20087:01 amRNSTrading Update
20th Feb 20087:01 amRNSAcquisition Agreement for IP
8th Feb 20082:26 pmRNSHolding(s) in Company
6th Feb 20088:31 amRNSBlocklisting Interim Review
6th Feb 20088:04 amRNSSenior Independent Director
1st Feb 20088:48 amRNSVoting rights
23rd Jan 20087:00 amRNSResearch Update
11th Jan 20087:00 amRNSRe: Food Retail Contract
21st Dec 200711:36 amRNSHolding(s) in Company
10th Dec 20077:01 amRNSAdditional US Patent
23rd Nov 20075:52 pmRNSHolding(s) in Company
25th Oct 200712:00 pmBUSPuriCore Presenting at Acumen BioFin Rodman & Renshaw 9th Annual Healthcare Conference
25th Oct 20077:00 amRNSPresenting at Conference
17th Oct 200712:00 pmBUSPuriCore Arranges New $20 Million Borrowing Facility
17th Oct 20077:00 amRNSArranges Borrowing Facility
12th Oct 20078:46 amRNSFCSI Product of the Year
11th Oct 20074:35 pmBUSSterilox Food Safety System Named FCSI Product of the Year
8th Oct 200712:00 pmBUSPuriCore Receives US Patent on Wound Therapy Method
8th Oct 20077:00 amRNSReceives US Patent
24th Sep 20077:03 amRNSRe: Wound Therapy System
24th Sep 20077:01 amRNSInterim Results
5th Sep 20074:14 pmRNSHolding(s) in Company
4th Sep 20077:01 amRNSBlocklisting Applications
31st Aug 20077:01 amRNSBlocklisting Interim Review
24th Jul 20076:24 pmRNSHolding(s) in Company
24th Jul 20079:32 amRNSDirector's Interest
23rd Jul 20077:01 amRNSTrading Update
18th Jun 200712:00 pmBUSAdditional Studies Demonstrate PuriCore's Sterilox Solution Effective against Major Outbreak Pathogens
18th Jun 20077:02 amRNSResearch Update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.