Refinance of Convertible Loan Note

RNS Number : 8739C

EPE Special Opportunities PLC

20 October 2015

 



EPE Special Opportunities plc

Loan Notes issue and Refinance of part of Convertible Loan Notes in issue

Further to the announcements of 24 July 2015 and 16 Sept 2015, EPE Special Opportunities plc ("ESO plc" or the "Company") announces that certain private investors have agreed to subscribe for loan notes issued by ESO plc (the "Loan Notes") in the principal amount of £525,000 (the "Loan Notes Issue").

ESO plc also announces that it has refinanced a further £314,959 in principal amount of the existing Convertible Loan Notes ("CLNs") by the issue of new Loan Notes in the principal amount of £314,959. Following the transaction, the total number of CLNs admitted to trading remains 10,000,000, with CLNs in the principal amount of £3,647,986 held by third parties and CLNs in the principal amount of £6,352,014 held by the Company.

In addition to the new Loan Notes, CLN holders participating in the refinancing have received warrants over ordinary shares of 5 pence each ("Ordinary Shares") on a 1 for 5 basis, so that such CLN holders have received 62,911 warrants entitling them to subscribe for 62,911 Ordinary Shares (in the aggregate) upon the payment in cash of 170 pence per Ordinary Share. The warrants are exercisable at any time after 31 July 2018, but they will lapse if they are not exercised prior to 31 January 2022.

The Loan Notes Issue and the refinancing of the CLNs takes the total amount of the Loan Notes issued since July 2015 to £6.5 million.

Enquiries:

EPIC Private Equity LLP	Alex Leslie [phone]
FIM Capital Limited (formerly IOMA Fund and Investment Management Limited)	Philip Scales [phone]
Cardew Group	Richard Spiegelberg [phone]
Numis Securities Ltd	[phone]
Nominated Advisor:	Stuart Skinner / Hugh Jonathan
Corporate Broker:	Charles Farquhar

 

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