London Capital Group released on Conversion of Loan Notes and Issue of Equity
London Capital Group announced that:
JIM Nominees Limited have served notice to convert 750,000 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 £262,500 is payable in LCG ordinary shares at a conversion price of 25.02p.
Accordingly, an application will be made for 4,046,763 ordinary shares of 10p each to be admitted to trading on AIM (“Admission”). It is expected that Admission will occur at 8.00 am on 10 February 2015. Following Admission, and subject to admission of the aggregate 14,395,684 ordinary shares issued in connection with recent conversions of loan notes as announced by the Company on 21 January 2015, LCG will have 75,592,276 ordinary shares in issue, of which 1,000,000 are held in Treasury.
The total number of voting rights in the Company will therefore be 74,592,276. Following Admission, this figure (74,592,276) may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Rules and Transparency Rules.
Source: LCG – Conversion of Loan Notes and Issue of Equity
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