Byotrol PLC Conversion of Loan Notes and Issue of Equity (2020P)
29 Agosto 2017 - 2:19PM
UK Regulatory
TIDMBYOT
RNS Number : 2020P
Byotrol PLC
29 August 2017
29 August, 2017
Byotrol plc
('Byotrol', the 'Group' or the 'Company')
Conversion of Loan Notes and Issue of Equity
Byotrol plc, the specialist anti-microbial technology company,
is pleased to announce that following the Placing & Open Offer
announced on 3 August 2017, the Company has reached an agreement
with all the holders of its Convertible Loan Notes that they will
convert all of the outstanding Convertible Loan Notes ("CLNs") into
10,857,139 new Ordinary Shares ("Conversion Shares"). The holders
of the CLNs have also agreed not to sell any Ordinary Shares that
they hold prior to 31 December 2017. The conversion of the CLNs
into new Ordinary Shares, will allow the Company to retain
GBP380,000 that would otherwise have been required to redeem the
CLNs. In reaching agreement, the Company has agreed to reduce the
conversion price from 3.7p per new Ordinary Share (as detailed in
the announcement of 3 August 2017) to 3.5p per new Ordinary
Share.
Accordingly, application has been made to London Stock Exchange
for the 10,857,139 Conversion Shares to be admitted to trading on
AIM. It is expected that admission will become effective and
trading will commence in the new Ordinary Shares at 8.00 a.m. on 1
September 2017. On admission the Company's issued share capital
will comprise 278,908,704 Ordinary Shares, of which none are held
in treasury. Therefore, the total number of Ordinary Shares in the
Company with voting rights will be 278,908,704. This figure 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 to their interest in, the
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules
Capitalised terms not otherwise defined in this announcement
shall have the same meaning ascribed to such terms in the
announcement released earlier today unless the context requires
otherwise.
Contacts:
Byotrol plc 01925 742 000
David Traynor - Chief Executive
finnCap Ltd 020 7220 0500 (Nominated Adviser & Broker)
Geoff Nash/Carl Holmes/James Thompson - Corporate Finance
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a specialist developer
of residual antimicrobial technologies, identifying, developing,
formulating and commercialising cutting-edge antimicrobial
solutions.
Our patented suite of technologies deliver powerful
broad-spectrum efficacy with residual performance optimised against
commonly occurring and industry-specific pathogens
Founded in 2005, the Company has developed the technology that
creates easier, safer and cleaner lives
For more information, please go to www.byotrol.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
CONLKLFLDVFFBBQ
(END) Dow Jones Newswires
August 29, 2017 08:19 ET (12:19 GMT)
Grafico Azioni Byotrol (LSE:BYOT)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Byotrol (LSE:BYOT)
Storico
Da Lug 2023 a Lug 2024