Business
Corporate Update & Restoration of Trading on AIM
Corporate Update & Restoration of Trading on AIM.
About this update from B90 Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4800S\n B90 Holdings PLC\n 17 March 2021\n \n \n \n \n 17 March 2021\n \n \n \n \n \n B90 Holdings plc\n \n \n (\"B90\", the \"Company\" or \"Group\")\n \n \n \n \n \n Issue of Convertible Loan\n \n \n Conversion of Liabilities & Issue of Equity\n \n \n Corporate Update \n \n \n Restoration of Trading on AIM\n \n \n \n \n \n B90 Holdings plc (AIM: B90), the online marketing and operating company for the gaming industry, is pleased to announce that it has raised, in aggregate, €1,847,000 (approximately £1,585,000) pursuant to subscriptions for convertible loan notes (the \"Convertible Loan\"). \n \n \n \n \n \n The issue of the Convertible Loan coincides with today's release of the Company's 2019 annual report and accounts and unaudited interim results for the six months ended 30 June 2020.\n \n \n \n \n \n As a result, the suspension of the Company's ordinary shares of no par value (\"Ordinary Shares\") from trading on AIM is being lifted with effect from 7.30 a.m. today. Accordingly, trading in the Ordinary Shares on AIM will be restored at 8.00 a.m. today.\n \n \n \n \n \n In light of the above, B90 is also pleased to provide a corporate update. \n \n \n \n \n \n Convertible Loan\n \n \n The Company has raised, in aggregate, €1,847,000 (approximately £1,585,000) pursuant to the Convertible Loan, with the proceeds to be used for working capital and to satisfy certain creditor, statutory and regulatory payments. \n \n \n \n \n \n The terms of the Convertible Loan are the same as the \n convertible loan notes issued in September 2019, December 2019, May 2020, September 2020 and December 2020, as \n set out in the Company's announcement of 9 December 2020. T\n he Convertible Loan has a three-year term and \n a 5% annual coupon, payable in arrears on 30 June and 31 December, with the first instalment due to be paid on 30 June 2021. The Convertible Loan is convertible at any time by the investors at a price of 5p per new Ordinary Share. The Convertible Loan will automatically convert into Ordinary Shares if the closing mid-market price of an Ordinary Share is 10p or more for 25 consecutive business days. The Convertible Loan is unsecured.\n \n \n \n \n \n Following the issue of \n the Convertible Loan, the Company has €4,...