Flowgroup plc Conversion of Company Convertible Loan Notes (0077M)
25 April 2018 - 4:01PM
UK Regulatory
TIDMFLOW
RNS Number : 0077M
Flowgroup plc
25 April 2018
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Flowgroup plc
(the "Company")
Conversion of Company Convertible Loan Notes
Flowgroup plc (AIM:FLOW) announces that on 24 April 2018, the
Company issued the following preference shares of GBP1.00 each
("Preference Shares") upon the conversion of loan notes issued by
the Company to Palm and Lombard Odier as part of its May 2017
fundraising (the "Company Convertible Loan Notes"):
-- 2,466,556 Preference Shares to Palm upon the conversion of 2,466,556 loan notes, and
-- 1,781,402 Preference Shares to Lombard Odier upon the conversion of 1,781,402 loan notes
(in each case to their nominated entities).
The Company has also issued a further 881,742 Company
Convertible Loan Notes to the nominated entities of Palm and
Lombard Odier representing the amount of accrued but unpaid
interest on the converted Company Convertible Loan Notes. The
Preference Shares carry 83.33 votes per share at general meetings
of the Company but are not entitled to participate in any dividend
or distribution of the Company. On a winding up or dissolution of
the Company the holders of the Preference Shares are entitled to be
paid 100% of their nominal value in seniority and preference to the
holders of the ordinary shares. The preference shares are unlisted.
The full rights attaching to Preference Shares are outlined in
detail in the Articles of Association of the Company.
Following the issue of the Preference Shares, the total number
of voting rights in the Company is 1,777,580,291 comprising
353,996,498 attaching to the Preference Shares and 1,423,583,793
Ordinary Shares. This figure of 1,777,580,291 may be used by
shareholders 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 Company, under the FCA's
Disclosure and Transparency Rules.
Following the issue of the Preference Shares and including votes
attaching to Ordinary Shares the approximate percentage of total
voting rights held by Palm and Lombard Odier is 16.68% and 13.22%
respectively.
Enquiries
+44 (0)20 3817
Flowgroup plc 3637
Alan Lovell, Chairman
Nigel Canham, Chief Financial Officer
Cenkos Securities plc (Nominated adviser and broker) +44 (0)20 7397
Stephen Keys / Mark Connelly / Callum Davidson 8900
(Corporate Finance)
Walbrook PR Ltd (Financial PR advisers) +44 (0)20 7933
Paul McManus / Nick Rome 8780
Definitions
In this announcement, "Palm" and "Lombard Odier" have the
meanings given to them in the Company's announcement dated 10 April
2018.
This information is provided by RNS
The company news service from the London Stock Exchange
END
CONMMGZDZDGGRZZ
(END) Dow Jones Newswires
April 25, 2018 02:01 ET (06:01 GMT)
Flowgroup Plc (LSE:FLOW)
Historical Stock Chart
From May 2024 to Jun 2024
Flowgroup Plc (LSE:FLOW)
Historical Stock Chart
From Jun 2023 to Jun 2024