Global Resources Investment Tst PLC Conversion of Loan Notes (0933E)

TIDMGRIT

RNS Number : 0933E

Global Resources Investment Tst PLC

30 October 2015

GLOBAL RESOURCES INVESTMENT TRUST PLC

("GRIT")

Conversion of Loan Notes

By a loan note instrument by deed poll dated 27 February 2014 ("Loan Note Instrument"), the Company had in issue GBP4,750,000 nominal of 9 percent per annum convertible unsecured loan notes ("Loan Notes").

GRIT announces that it received a notice of exercise by Resources Development Partners Limited to convert GBP50,000 of Loan Notes into equity.

The Loan Notes are convertible into new Ordinary Shares in GRIT at the conversion price, being the higher of (i) the volume weighted average price of Ordinary Shares for the fifteen business days immediately prior to (and calculated on) the first anniversary of the Loan Note Instrument (capped at GBP1.00) and (ii) GBP0.75. GRIT has therefore issued 66,667 new Ordinary Shares to Resources Development Partners Limited ("New Shares") at an issue price of GBP0.75.

The New Shares will rank pari passu in all respects with the existing ordinary shares. Application will be made for the New Shares to be admitted to trading and admission is expected to take place on or around 5 November 2015.

Following the issue of the New Shares, the GRIT's issued share capital consists of 39,970,012 Ordinary Shares, with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation 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 GRIT under the Financial Conduct Authority's Disclosure and Transparency Rules.

Enquiries to:

 
 David ("Sam") Hutchins,                Tel: +(0) 7290 8540 
  RDP Fund Management LLP 
  Investment Manager 
-------------------------------------  ----------------------- 
 Martin Cassels                         Tel: +(0) 131 524 6140 
  R&H Fund Services Limited 
  Company Secretary and Administrator 
-------------------------------------  ----------------------- 
 Roland Cornish                         Tel: +(0) 7628 3396 
  Beaumont Cornish Limited 
  Financial Adviser 
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This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 30, 2015 12:15 ET (16:15 GMT)

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