Financing Update
15 March 2008 - 3:28AM
UK Regulatory
RNS Number:1813Q
Aquabella Group PLC
14 March 2008
Aquabella Group plc (the 'Company')
Financing update
14 March 2008
Further to the Trading and Financing statement made on 13 February 2008 where
the company reported that working capital in the business is under pressure and
that the Board is actively exploring options to address its short term financing
requirements and the subsequent request on 19 February 2008 for suspension in
trading of the shares in the Company, the Company is pleased to announce that it
has agreed terms for the subscription of �225,000 of convertible loan notes
("Loan Notes") from existing investors. The Loan Notes carry an interest rate
of 8% and will be convertible into Ordinary Shares at the lower of 12p per share
or the lowest price at which any Ordinary Shares are issued by the Company
during the term and will be convertible at any time at the discretion of the
holder of the Loan Notes.
This financing addresses the immediate working capital requirements of the
Company whilst it continues to actively explore options to address its short and
medium term financing requirements.
The Company has requested that its shares remain temporarily suspended pending a
further announcement.
Enquiries
Aquabella
Pieter Totte
020 7234 0570
Shore Capital
Guy Peters
020 7408 4090
This information is provided by RNS
The company news service from the London Stock Exchange
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