Business
Issue of Loan Note
Issue of Loan Note.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n RNS Number : 7554S Deal Group Media PLC 26 May 2009 \n \n\n\n\n\n\n\n\nPress Release\n\n\n 26 May 2009\n\n\n\n\n\n\nDeal Group Media plc \n('Deal Group Media' or 'the Group')\n\n\nIssue of Convertible Redeemable Loan Note\n\n\nDeal Group Media plc (AIM: DGM), an independent online marketing group, is pleased to announce that, to further strengthen the Group's balance sheet, it has successfully raised £500,000 by way of a convertible loan note ('The Note') which has been issued to River Don Limited, a company controlled by John Porter, the Group's former Chairman. \n\nThe Note, which carries a 15% coupon payable with principal on redemption or repayment is, subject to the passing of certain resolutions at the Group's forthcoming AGM, convertible into such number of the Group's ordinary shares as will result in River Don Limited and John Porter having, in aggregate, a maximum of 29.99% of the Group's issued shares, at a conversion price of 0.5 pence per ordinary share. The Note is redeemable on one months notice from River Don Limited and can be repaid by the Group on one months notice, such notice not to expire before the first anniversary of The Note. The Note is secured by way of a charge over two associated Group holdings in DC Storm Ltd and DGM (UK) Limited. \n\nDue to this being a related party transaction under the AIM Rules, the Group's directors, having consulted with Daniel Stewart & Company plc, the Group's nominated adviser, consider the terms to be fair and reasonable insofar as shareholders are concerned.\n\n\n- Ends - \n\n For further information, please contact:\n\n\n\n\n\nDeal Group Media plc\n\n\n\n\n\n\n\nAdrian Moss, Chief Executive \n\n\nTel: 00 65 6508 9202\n\n\n\n\n\n\n\nwww.dealgroupmediaplc.com\n\n\n\n\n\n\n\n\n\nDaniel Stewart & Company plc\n\n\n\n\n\n\n\nPaul Shackleton / Stewart Dick\n\n\nTel: +44 (0) 20 7776 6550\n\n\n\n\n\n\n\nwww.danielstewart.co.uk\n\n\n\n\n\n\n\n\n\nAbchurch Communications\n\n\n\n\n\n\n\nChris Lane / Nick Probert\n\n\nTel: +44 (0) 20 7398 7715\n\n\n\n\[email protected]\n\n\nwww.abchurch-group.com\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCPUUCPAUP...