Information  X 
Enter a valid email address

Polemos PLC (PLMO)

  Print      Mail a friend

Friday 09 November, 2018

Polemos PLC

Issue of Convertible Loan Notes

RNS Number : 9546G
Polemos PLC
09 November 2018
 

 

 

9 November 2018

 

 

POLEMOS PLC

(AIM: PLMO)

 

Convertible Loan Note Issue

 

 

Polemos plc ("Polemos" or "the Company"), is pleased to announce a conditional Placing (the "Placing") of £220,000 via Convertible Unsecured Loan Notes ("CLNs") by the Company's broker, Peterhouse Capital.

 

 The CLNs have a term of 3 months and no coupon. 

 

The issue of the CLNs is conditional on the Company completing a Reverse Takeover and on the Admission of the enlarged ordinary share capital to trading on a Recognised Investment Exchange. When issued, the CLNs will have a conversion price of 25% discount to the price on Re-admission.

 

The net proceeds of this Placing, combined with the Company's current cash resources and after meeting previously undisclosed liabilities that came to light after the appointment of the current directors, satisfy its commitment as part of the agreed terms with Digitalbox Publishing Holdings Limited ("DBPH") to have a minimum cash balance of £500,000k (before transaction costs) immediately before completion of the proposed Reverse Takeover ("RTO") with DBPH.

 

Significant progress on the transaction has been made and the Company's is working towards a readmission early in the New Year. It has been agreed with DBPH to extend the exclusivity period in relation to the proposed RTO to 31 January 2019.

 

Enquiries:

 

Polemos plc

www.polemos.co.uk

Nigel Burton, Chairman

 

+44 (0) 7785 234 447

 

WH Ireland Limited - Nominated Adviser

 

www.whirelandcb.com

Mike Coe / Chris Savidge

+44 (0) 117 945 3470



Peterhouse Capital Limited - Joint Broker

www.peterhousecap.com

Lucy Williams

+44 (0) 20 7469 0930



Leander Capital Partners Limited - Joint Broker

www.leandercap.com

Alex Davies

+44 (0) 20 7195 1458

Hugh Kingsmill Moore

+44 (0) 20 7915 1425

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
IODFKCDDPBDDKDK

a d v e r t i s e m e n t