10 Jul 2009 07:00
10 July 2009
Canisp Plc
(Canisp or 'the Company')
Issue of Equity
Canisp (AIM:CN.), today announces that it has received notification to convert a further £50,000 of the £1.6 million convertible debt announced on 21 April 2008 into 50,000,000 Ordinary Shares of 0.1p each, representing 24.8 per cent of the enlarged issued share capital of the Company. These shares have been placed with unconnected third parties and there is no further disclosable interest required by those placees in relation to these shares. After this conversion, the remaining balance of convertible debt stands at approximately £1.04 million.
In accordance with the terms of the convertible loan, these shares have been allotted and issued at par. Application for these shares to be admitted to trading on AIM has been made and is expected to occur at 8.00 am on 16 July 2009. Following this issue there will be 201,547,275 Ordinary Shares of 0.1 pence each in issue.
Enquiries:
Nominated advisor and broker:
Andrew Chubb, Canaccord Adams Limited tel: +44 (0) 207 050 6500
John Bick, Hansard Group tel: +44(0)7917 649362