600 Group PLC Issue of 2nd tranche of loan notes (7060H)
18 March 2015 - 6:01PM
UK Regulatory
TIDMSIXH
RNS Number : 7060H
600 Group PLC
18 March 2015
The 600 Group PLC
Issue of 2nd tranche of loan notes
Further to the announcement made on 16 February 2015, the 600
Group PLC ("600" or "the Company"), the machine tools and laser
marking company, is pleased to announce that it has successfully
raised a further GBP955k through the issue of the 2nd tranche of
loan notes ("the Loan Notes").
The Loan Notes represent a further issuance of the loan notes
constituted by a loan note instrument dated 14 February 2015, the
first tranche of which was issued on 18 February 2015 ("the 1st
Tranche"). The Loan Notes mature on 14 February 2020 and carry a
coupon of 8% payable quarterly in arrears. The Loan Notes are
redeemable at any time after 14 February 2016 without any penalty.
It is intended that the Loan Notes will be listed on the Bermuda
Stock Exchange shortly.
Consistent with the 1st Tranche, subscribers for the Loan Notes
are also entitled to receive warrants, with an expiry date of 14
February 2020, to subscribe for 4.775m ordinary shares of 1 pence
each in the Company ("Ordinary Shares") at a price of 20 pence per
Ordinary Share. The grant of the warrants will be subject to
shareholder approval (which the Company is confident will be
granted) at a General Meeting of the Company ("GM") to be held at
10.30a.m. today at the offices of Pinsent Masons LLP, 30 Crown
Place, Earl Street, London, EC2A 4ES.
Following this grant, there will be 42.320m warrants in issue.
2.4m of these warrants expire on 27 August 2015 and 39.920m
warrants expire on 14 February 2020. All of the warrants have an
exercise price of 20p.
Proceeds from the Loan Note issue will be used to finance
further increases in working capital and/or additional investment
in Group businesses.
A further announcement will be made in due course in relation to
the listing of the Loan Notes on the Bermuda Stock Exchange.
More information on the Group can be viewed at:
www.600group.com
Enquiries:
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The 600 Group PLC Tel: 01924 415000
----------------------------------------- ---------------------------
Nigel Rogers, Chief Executive
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Neil Carrick, Finance Director
----------------------------------------- ---------------------------
SPARK Advisory Partners Limited Tel: 020 3368 3553
(NOMAD)
----------------------------------------- ---------------------------
Sean Wyndham-Quin / Miriam Greenwood
----------------------------------------- ---------------------------
Cadogan PR Limited (Financial Tel: 020 7499 5002 / 07771
PR) 713608
----------------------------------------- ---------------------------
Alex Walters
----------------------------------------- ---------------------------
FinnCap (Broker) Tel: 020 7600 1658
----------------------------------------- ---------------------------
Tony Quirke/Mia Gardiner (Sales/Broking)
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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