News Column

EMMIT PLC - Convertible Loan Conversion and Issue of Equity

July 30, 2014

Emmit plc ("the Company" or "Emmit") Convertible Loan Conversion and Issue of Equity The Company received a notification from a holder of a Convertible Loan Note ("CLN") that he wished to convert £2,500 of CLN into ordinary shares of the Company. The CLN converts into shares at a price of 0.5 pence per ordinary share. As a result of the conversion the Company will issue 500,000 new ordinary shares. The 500,000 new ordinary shares will rank pari passu with the existing ordinary shares. Application will be made for the 500,000 ordinary shares to be traded on AIM. Admission to AIM of the 500,000 shares is expected to occur on or around 5 August 2014. Following the issue of equity noted above the total issued share capital of the Company will comprise of 5,693,763 ordinary shares of 0.001 pence each. Following the loan note conversion detailed above the Company has £55,437.40 of outstanding Convertible Loan Notes that can convert into 11,087,480 new ordinary shares in the Company. The Company also has a total of 6,200,000 shares under warrants, 400,000 of which may be exercised at a price of 0.001p per share and 5,800,000 warrants can be exercised at a price of 6p per share. For further information please visit or contact: Emmit plc Dean Cook 01473 604504 Cairn Financial Advisers LLP Liam Murray 020 7148 7900 Nominated Adviser Alexander David Securities David Scott 0207 448 9820 Limited Broker

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: PR Newswire (UK Disclosure)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters