18 Jul 2016 08:00
18 July 2016
Arria NLG plc
("Arria NLG" or the "Company")
Issue of Loan Notes
Arria NLG (AIM: NLG.L), a technology leader in Natural Language Generation ("NLG"), is pleased to announce that it has issued a further £545,000 of Loan Notes with 499,283 B Warrants and 999,486 C Warrants attached to existing and new investors in the Company.
Interest is payable on the Loan Notes at the Bank of England base rate (currently 0.5%) plus 5%, and is payable annually in cash or upon maturity. The Loan Notes are convertible into the Company's ordinary shares at 40p per ordinary share and are exercisable up to 31 October 2019. The Company has a right to repay the Loan Notes before maturity. The B Warrants and C Warrants are to subscribe for new ordinary shares in the Company and are exercisable up to 11 June 2019, at 12p per new ordinary share.
The proceeds of the issue of Loan Notes will be applied to the Company's general short term working capital requirements.
Following the allotment of the Loan Notes and B Warrants and C Warrants above the Company will have in aggregate the following Loan Notes and B Warrants and C Warrants in issue;
Instrument | Number |
Convertible Loan Notes (convertible at 40p) | 6,725,000 |
B Warrants (exercisable at 12p) | 16,670,288 |
C Warrants (exercisable at 12p) | 999,486 |
For further information, please visit www.arria.com or contact:
Arria NLG plcStuart RogersChairman and Chief Executive | Tel +44 (0)20 7100 4540 |
Allenby Capital Nominated Adviser & Joint BrokerNick NaylorJeremy PorterJames Reeve | Tel: +44 (0)20 3328 5656 |
MSL Capital MarketsLead ManagerAndrew McDouallJustine DunnettPeter Lynds | Tel: +64 (0)4 472 2716 |
Stockdale SecuritiesJoint BrokerAntonio BossiRobert Finlay | Tel: +44 (0)20 7601 6100 |
IFC AdvisoryFinancial PR and IRTim MetcalfeGraham HerringHeather Armstrong | Tel: +44 (0)20 3053 8671 tim.metcalfe@investor-focus.co.uk graham.herring@investor-focus.co.uk heather.armstrong@investor-focus.co.uk |
Ruder FinnPR (USA)Scott Beaver (West Coast)Brianna Mulligan (East Coast) | Tel: +1 541-326-5847Tel: +1 203-246-1304 |
Arria NLG
Arria NLG's core product is known as the Arria NLG Platform, a form of artificial intelligence software specialised in extracting information from complex data sources and communicating that information in natural language (i.e. as if written by a human). The scientific foundation for the Arria NLG Platform is based on more than 30 years of research and development by the founders of Arria Data2Text Limited at the University of Aberdeen. For additional information, visit www.arria.com. Follow Arria NLG on Twitter, LinkedIn, Google+ and YouTube.
NLG.L (NLG)