Business
Issue of Loan Notes
Issue of Loan Notes.
About this update from Active Energy Group Plc
[{"type":"text","content":"\n \nImmediate Release: 14 September 2006\n\n BUCKLAND GROUP PLC \n\n (\"Buckland\" or the \"Group\") \n\n Issue of Loan Notes \n\nBuckland, the AIM listed manufacturer of gas ignition components, announces\nthat it has completed a private placing of £ 125,000 of convertible loan notes\n(the \"notes\"). The notes, which are unsecured, pay interest at the rate of 12%\nper annum, are unlisted and are redeemable at par for cash on 31st March 2008\nif not converted prior to that date. At the option of the note holders, the\nnotes are convertible in whole or in part into Buckland 0.01p ordinary shares\nat the conversion price of 0.1p per share, at any time between 1st September\n2007 and 31st March 2008.\n\n£ 92,500 of the notes have been subscribed by private investors and £ 32,500\nhave been subscribed by two directors of Buckland, being Patrick Rogers\n(Chairman) and Lee Sharples (Non Executive Director).\n\nThe proceeds of the issue will be used to provide additional working capital\nfor the Group following the transfer of all its manufacturing activities to\nThailand earlier this summer.\n\nThe directors of Buckland (other than the directors involved in the\ntransaction) consider, having consulted with Seymour Pierce, that the terms of\nthe transaction are fair and reasonable insofar as its shareholders are\nconcerned.\n\nThe Group's interim results for the six month period ended 30th June 2006 will\nbe announced on 25th September 2006.\n\nContacts:\n\nPatrick Rogers, Chairman\n\nBuckland Group Plc\n\nTel. 077 11 420 702\n\nBen Simons\n\nHansard Group\n\nTel. 020 7245 1100\n\n\n \n ","length":1773,"tagName":"div"}]