Business
Issue of Convertible Loan
Issue of Convertible Loan.
About this update from Great Western Mining Corp. Plc
[{"type":"text","content":"\n \n\n6 August 2010\n\n GREAT WESTERN MINING CORPORATION PLC\n\n (the \"Company\" or \"GWM\")\n\n Issue of Convertible Loan\n\nThe Directors of the Company announce that the Company raised EURO 100,000 via the issue of an interest-bearing\nredeemable convertible loan (the \"Loan\") to Chairman Emmett O'Connell on 22 June 2010. Until either conversion\nor repayment the interest on the value of the Loan will accrue at the Bank of Ireland's variable bank lending\nrate. The Loan is convertible into the Company's ordinary shares of EURO 0.01 each (the \"Ordinary Shares\") at the\nlowest mid-market share price between 22 June 2010 and the conversion date. Additionally, the Loan is repayable\nupon the demand of Emmett O'Connell.\n\nEmmett O'Connell's interest in the Company's Ordinary Shares remains unchanged, with Emmett O'Connell holding\n6,451,000 Ordinary Shares, with each Ordinary Share having one right to vote, representing 22.83% of the voting\nrights in the issued ordinary share capital of the Company.\n\nTHE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT\n\n ---ENDS---\n\nCONTACT DETAILS:\n\nGreat Western Mining Corporation plc.\n\nEmmett O'Connell, Chairman. Tel: +353 51 565844\n\n Fax: +353 51 565 884\n\n Email: [email protected]\n\nLiam McGrattan, Director. Tel: 087 274 5427\n\nMelvyn Quiller, U.K. Director. Tel: 0771 289 9588\n\nSVS Securities Plc - PLUS Corporate Adviser. Tel: 020 7638 5600\n\nPeter Ward / Alexander Brearley. \n\nSVS Securities Plc - Broker. Tel: 020 7638 5600\n\nIan Callaway / Alexander Mattey.\n\nABOUT GREAT WESTERN MINING CORPORATION PLC.\n\n 1. GWM is an Irish exploration company with rights over approximately 33 square kilometres of mineral\n\n claims in Nevada. U.S.A.\n\n 2. GWM's shares are admitted to trading on PLUS-quoted in London, trading symbol GWMO.\n\n 3. Website: www.greatwesternmining.com\n\nGreat Western Mining Corporation plc\n ","length":2366,"tagName":"div"}]