Conroy Gold & Natural Resources Plc Loan Conversion
25 October 2022 - 5:00PM
UK Regulatory
TIDMCGNR
25 October 2022
Conroy Gold and Natural Resources plc
("Conroy Gold" or the "Company")
LOAN CONVERSION
On 30 October 2019, the Company announced that it had raised ?100,000 through
the issue of an unsecured convertible loan note (the "Convertible Loan Note")
to Hard Metal Machine Tools Limited (the "Lender"). The Convertible Loan Note
had a term of three years and attracted interest at a rate of 5% per annum
which was to be payable on the redemption or conversion of the Convertible Loan
Note. The Convertible Loan Note, including the total amount of accrued but
unpaid interest, was convertible at a conversion price ("Conversion Price") of
£0.06. The Lender is a company controlled by Mr Philip Hannigan, an existing
shareholder in the Company.
The Company today announces that it has received notice of conversion (the "
Conversion") from the Lender in relation to the Convertible Loan Note. At the
Conversion Price, the loan and all accrued interest (£103,475.34 as at 27th
October 2022) is convertible into 1,724,589 new Ordinary Shares ("Ordinary
Shares") in the Company.
Application has been made to the London Stock Exchange for the 1,724,589 new
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected
that Admission will become effective on, or around, 28 October 2022.
Following the Conversion, Mr Philip Hannigan is expected to have a beneficial
interest in a total of 8,588,075 Ordinary Shares in the Company representing
19.19% of the issued share capital of the Company on Admission.
Total Voting Rights
Following the Conversion, the issued share capital of the Company will comprise
44,756,101 ordinary shares of ?0.001, with one voting right per share. The
Company does not hold any shares in treasury. Therefore, the total number of
Ordinary Shares and voting rights in the Company will be 44,756,101.
Following the Conversion, the above figure may be used by shareholders in the
Company as the denominator for the calculations 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 the Company under the FCA's Disclosure Guidance and
Transparency Rules.
For further information please contact:
Conroy Gold and Natural Resources plc Tel: +353-1-479-6180
Professor Richard Conroy, Chairman
Tel: +44-20-3328-5656
Allenby Capital Limited (Nomad)
Nick Athanas/Nick Harriss
First Equity Limited (Broker) Tel: +44-20-7330-1883
Jason Robertson
Lothbury Financial Services Tel: +44-20-3290-0707
Michael Padley
Hall Communications Tel: +353-1-660-9377
Don Hall
Visit the website at: http://www.conroygoldandnaturalresources.com/
END
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