London Capital Group – Conversion of Loan Notes 

The Company announces that, on 20 January 2015, the Company approved a notice from GLIO Holdings Limited (“GLIO”) to convert 1,688,000 loan notes of £1.00 each in LCG at a price of 25.02p in accordance with the terms of the GLIO Convertible Loan Note Instrument (“CLN”) dated 17 June 2014. Interest of £583,800 is payable to GLIO in LCG ordinary shares at a conversion price of 25.02p.

Accordingly, an application has been made for 9,000,000 ordinary shares of 10p each to be admitted to trading on AIM (“First Admission”). It is expected that First Admission will occur at 8.00am on 30 January 2015.

The Company also announces that on 20 January 2015, HSBC Global Custody Nominee (UK) Limited, on behalf of Hargreave Hale Limited served notice to convert 1,000,000 loan notes of £1.00 each in LCG at a price of 25.02p in accordance with the terms of the Institutional Investors Convertible Loan Note Instrument dated 1 October 2014. Interest of £350,000 is payable to Hargrave Hale Limited in LCG ordinary shares at a conversion price of 25.02p.

Accordingly, an application has been made for 5,395,684 ordinary shares of 10p each to be admitted to trading on AIM (“Second Admission”). It is expected that Second Admission will occur at 8.00am on 4 February 2015.

Following Second Admission, the Company’s issued share capital will consist of 71,545,513 ordinary shares, of which 1,000,000 are held in treasury. The Company’s total voting rights will therefore be 70,545,513. This figure (70,545,513) may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Rules and Transparency Rules.

Following Second Admission, GLIO will hold 9,000,000 ordinary shares of 10p each in LCG, representing approximately 12.76 per cent of the Company’s enlarged total voting rights. Charles-Henri Sabet, Executive Chairman, owns a 21.79 per cent. interest in GLIO through his 100 per cent. holding in ILOG Investments Limited.

Source: London Capital Group

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