MelodyVR Group PLC Conversion of Loan Notes and Issue of Equity (7777P)
19 Febbraio 2021 - 3:20PM
UK Regulatory
TIDMMVR
RNS Number : 7777P
MelodyVR Group PLC
19 February 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014, as it
forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 .
MelodyVR Group PLC
("MVR" or the "Company")
Conversion of Loan Notes and Issue of Equity
MelodyVR Group PLC (AIM:MVR), a leading music company and
operator of the MelodyVR and Napster platforms, announces that it
has received a notice of exercise from Nice & Green S.A (the
"Investor") in respect of the issue of Convertible Loan Notes
("Loan Notes") (as announced on 8 February 2021). This conversion
notice follows from the Company issuing a total of GBP540,000 Loan
Notes to date under the previously announced investment agreement
with the Investor under which Loan Notes with an aggregate value of
GBP6.48 million will be issued.
As a result of this conversion notice GBP270,000 Loan Notes have
been converted into 9,747,292 ordinary shares (the "Conversion
Shares") at a conversion price of 2.77p in accordance with the
terms of the Loan Notes.
Application will be made for the Conversion Shares to be
admitted to trading on AIM with admission expected to take place on
or around 25 February 2021. The Conversion Shares will rank pari
passu in all respects with all existing ordinary shares in the
Company .
Following admission of the Conversion Shares , the Company's
enlarged issued share capital will comprise 2,567,471,359 ordinary
shares with voting rights. 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 Financial Conduct Authority's Disclosure and
Transparency Rules.
For further information please contact;
MelodyVR Group PLC email@melodyvr.group
Anthony Matchett, Group CEO
Arden Partners plc: Tel: +44 (0) 20 7614
Nominated Advisor and Broker 5900
Corporate Finance: Ruari McGirr / Ben
Cryer
Corporate Broking: Simon Johnson
Notes to Editors:
www.melodyvr.com
www.napster.com
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END
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