GRIT Investment Trust PLC Conversion of Existing Convertible Loan Notes (0438E)
25 October 2022 - 9:12PM
UK Regulatory
TIDMGRIT
RNS Number : 0438E
GRIT Investment Trust PLC
25 October 2022
25 October 2022
GRIT Investment Trust PLC
("GRIT" or the "Company")
Conversion of Existing Convertible Loan Notes
Total Voting Rights
Conversion of Existing Convertible Loan Notes
The GRIT Board announces that with the consent of the Company,
an aggregate of GBP52,500 principal of Existing Convertible Loan
Notes held by Malcolm Burne and Richard Lockwood, Directors of GRIT
have been converted into 2,100,000 new ordinary shares (the
"Conversion Shares") of 2.5p each in the Company at a conversion
price of 2.5p per share. Of the total Conversion Shares, 1,040,279
new ordinary shares were issued to Malcolm Burne and 1,059,721 new
ordinary shares were issued to Richard Lockwood.
Applications for Admission of the Conversion Shares
Applications have been made to the Financial Conduct Authority
("FCA") and the London Stock Exchange for the 2,100,000 Conversion
Shares to be admitted to listing on the Official List (premium
listing segment) and to trading on the London Stock Exchange's main
market for listed securities ("Admission"). It is expected that
Admission will become effective and trading in such Conversion
Shares will commence at 8.00 a.m. on 28 October 2022.
Total Voting Rights
Following the issue of the 2,100,000 Conversion Shares, which on
Admission will rank pari passu with the existing issued ordinary
shares of 2.5p each in the Company ("Ordinary Shares") , the total
number of Ordinary Shares in issue with voting rights in the
Company will be 8,635,741. There are no Ordinary Shares held in
treasury by the Company.
The above figure of 8,635,741 may therefore be used by
shareholders as the denominator for the calculation by which they
may determine if they are required to notify their interest in, or
change to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.
For more information, please contact:-
GRIT Investment Trust plc
Martin Lampshire
Tel: +44 (0) 20 3198 2554
Peterhouse Capital Limited
Lucy Williams/Duncan Vasey
Tel: +44 (0)20 7469 0930
The following information relating to the issue of the
Conversion Shares to Malcolm Burne and Richard Lockwood has been
filed with the FCA in accordance with Article 19(1) of UK MAR:-
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Malcolm Burne
------------------ ------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Director
------------------ ------------------------------------------------
b) Initial Initial notification
notification
/Amendment
------------------ ------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name GRIT Investment Trust PLC
------------------ ------------------------------------------------
b) LEI 2138005OJKGWG3X4SY51
------------------ ------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of 2.5 pence
of the financial
instrument,
type of ISIN: GB00BL594W83
instrument
Identification
code
------------------ ------------------------------------------------
b) Nature of Issue of 1,040,279 shares on conversion of
the transaction aggregate GBP26,006.98 Convertible Loan Notes.
------------------ ------------------------------------------------
c) Price(s) Price No. of
and volume(s) shares
2.5 pence 1,040,279
----------
------------------ ------------------------------------------------
d) Aggregated
information
- Aggregated
volume
- Price 1,040,279
2.5 pence
------------------ ------------------------------------------------
e) Date of 28 October 2022
the transaction
------------------ ------------------------------------------------
f) Place of Outside a trading venue
the transaction
------------------ ------------------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Lockwood
------------------ ------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Director
------------------ ------------------------------------------------
b) Initial Initial notification
notification
/Amendment
------------------ ------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name GRIT Investment Trust PLC
------------------ ------------------------------------------------
b) LEI 2138005OJKGWG3X4SY51
------------------ ------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------
a) Description Ordinary shares of 2.5 pence
of the financial
instrument,
type of ISIN: GB00BL594W83
instrument
Identification
code
------------------ ------------------------------------------------
b) Nature of Issue of 1,059,721 shares on conversion of
the transaction aggregate GBP26,493.03 Convertible Loan Notes.
------------------ ------------------------------------------------
c) Price(s) Price No. of
and volume(s) shares
2.5 pence 1,059,721
----------
------------------ ------------------------------------------------
d) Aggregated
information
- Aggregated
volume
- Price 1,059,721
2.5 pence
------------------ ------------------------------------------------
e) Date of 28 October 2022
the transaction
------------------ ------------------------------------------------
f) Place of Outside a trading venue
the transaction
------------------ ------------------------------------------------
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