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
31st Jan 20139:00 amRNSTotal Voting Rights
17th Jan 20135:22 pmRNSHolding(s) in Company
17th Jan 20134:44 pmRNSHolding(s) in Company
17th Jan 20134:42 pmRNSHolding(s) in Company
17th Jan 20134:37 pmRNSHolding(s) in Company
17th Jan 20134:33 pmRNSHolding(s) in Company
17th Jan 20134:25 pmRNSHolding(s) in Company
17th Jan 20134:24 pmRNSHolding(s) in Company
10th Jan 20134:53 pmRNSBoard Changes
10th Jan 20134:36 pmRNSResult of General Meeting
19th Dec 20123:25 pmRNSPublication of Prospectus
19th Dec 20127:00 amRNSRestructuring of Loan Notes and Placing
19th Nov 20127:00 amRNSInterim Management Statement
15th Nov 20127:00 amRNSLohas partnering agreement
9th Oct 20127:00 amRNSPuriCore Signs Two Major US Deals
3rd Oct 20127:00 amRNSPositive Results from ActiVita Research
15th Aug 20122:34 pmRNSBlocklisting Application
13th Aug 20121:07 pmRNSBlocklisting Interim Review
8th Aug 20121:53 pmRNSNotification of Executive Chairman's Option Grant
6th Aug 20127:00 amRNSHalf Yearly Report
26th Jul 20127:00 amRNSNotice of Results
26th Jun 201211:54 amRNSHolding(s) in Company
25th Jun 20129:00 amRNSDirector's Dealing
12th Jun 201211:36 amRNSResult of AGM
30th May 20127:00 amRNSBoard and Organisational Changes
21st May 20127:00 amRNSAnnual Information Update
30th Apr 20127:00 amRNSDirector Dealing and Share Option Grant
26th Apr 20127:00 amRNSInterim Management Statement
26th Apr 20127:00 amRNSFinal Results
25th Apr 20129:13 amRNSNotice of Results
29th Mar 20127:00 amRNSAppointment of New Chairman and Board Changes
13th Feb 20127:00 amRNSNotification of Director's Details
3rd Feb 20123:22 pmRNSDirectors dealings and share option grants
2nd Feb 20124:59 pmRNSBlocklisting Interim Review
1st Feb 20127:02 amRNSBBSRC Industrial Partner Award
1st Feb 20127:01 amRNSDirectorate Change
1st Feb 20127:00 amRNSPre-Close Trading Update
17th Jan 20127:00 amRNSPuriCore Aqualox EPA confirmation
3rd Jan 20127:00 amRNSRaises $3.5 Million Debt Facility
30th Dec 201110:45 amRNSTotal Voting Rights
19th Dec 20118:31 amRNSPuriCore Receives Two Major Contracts-Replacement
19th Dec 20117:54 amRNSPuriCore Receives Two Major Contracts
14th Dec 20117:00 amRNSAgriculture System Confirmed for Use by EPA
13th Dec 201112:44 pmRNSConvertible loan notes extension
18th Nov 20113:42 pmRNSInterim Management Statement
21st Oct 201111:57 amRNSConvertible Loan Notes Update
10th Oct 20118:21 amRNSHolding(s) in Company
22nd Sep 20114:35 pmRNSBoard and Organisational Changes
16th Sep 201111:19 amRNSNew $1.9million Debt Facility Agreed
5th Sep 20114:40 pmRNSSecond Price Monitoring Extn

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.