Business
Conversion of Capital Loan Notes
Conversion of Capital Loan Notes.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \nRNS Number : 9219W Dekeloil Public Limited 06 January 2014 \n \n\n \nDekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers\n6 January 2014\nDekelOil Public Limited ('DekelOil' or 'the Company')\nConversion of Capital Loan Notes\n \nDekelOil, the operator and 51% owner of an established vertically integrated palm oil project in Côte d'Ivoire, announces that the Company has accepted the conversion of four Capital Loan Notes totalling EUR570,000 ('the Capital Loan Notes').\n \nThe Loan Notes will convert into 43,913,713 new ordinary shares of €0.00003367 each in the Company ('New Ordinary Shares') at a conversion price of 1.1 pence per share, which represents a 19% premium to the trading price of 0.925 pence when the conversion deed was signed by the noteholders. Application will be made for the New Ordinary Shares to be admitted to trading on AIM which is expected to be on or around 10 January 2014 ('Admission'). The New Ordinary Shares are subject to a lock-in until 29 June 2014 with an additional Restricted Period of six months ending 29 December 2014.\n \nDekelOil Executive Director Lincoln Moore said, \"The conversion of the Capital Loan Notes and the acceptance of the dealing restrictions shows confidence from the loan note holders in DekelOil's business model and importantly, represents a significant reduction in holding company debt. This will be positive for the Company as we implement our strategy of evolving into a productive and cash generative palm oil company in Cote d'Ivoire in 2014.\"\n \nOn Admission of the New Ordinary Shares, the Company's issued share capital will consist of 1,347,495,908 Ordinary Shares.\n \n** ENDS **\n \nFor further information please visit the Company's website www.dekeloil.com or contact:\n\n\n\n\n \nYouval Rasin\n\n\n \nDekelOil Public Limited\n\n\n \nTel: +44 (0) 20 7024 8391\n\n\n\n\nShai Kol\n\n\nDekelOil Public Limited\n\n\nTel: +44 (0) 20 7024 8391\n\n\n\n\nLincoln Moore\n\n\nDekelOil Public Limited\n\n\nTel: +44 (0) 20 7024 8391\n\n\n\n\nChristian Dennis Jeremy King\nRoland Cornish\nRosalind Hill Abrahams\nElisabeth Cowell\n\n\nOptiva Securities Limited\nOptiva Securities Limited\nBeaumont Cornish Limited\nBeaumont Cornish Limi...