Business
Equity Subscription & Issue of Conv Loan Notes
Equity Subscription & Issue of Conv Loan Notes.
About this update from Insig Ai Plc
[{"type":"text","content":"\n \n \n RNS Number : 9210E\n Catena Group PLC\n 04 March 2020\n \n \n \n \n \n \n \n The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n \n \n \n 4 March 2020\n \n \n \n \n \n Catena Group PLC\n \n \n (\"Catena\" or the \"Company\")\n \n \n Result of Equity Subscription and Issue of Convertible Loan Notes\n \n \n \n \n \n Further to the announcement made on 3 March 2020, Catena Group plc is pleased to announce that it has raised gross proceeds of £1.5 million before expenses by way of a subscription of 4,000,000 new Ordinary Shares (the \"Subscription Shares\") at a price of 25 pence per share (\"Issue Price\") (the \"Subscription\") and the issue of £0.5 million convertible loan notes (\"Loan Notes\"). The net proceeds will be used to finance the proposed investment in Insight Capital Partners Ltd.\n \n \n The Issue Price represents a discount of 9.1 per cent. to the closing price of 27.50 pence on 2 March 2020. The Subscription and the issue of the Loan Notes are both conditional on admission of the Subscription Shares to trading on AIM. The Subscription Shares represent approximately 10.1 per cent. of the Company's issued share capital as enlarged by the Subscription. If the Loan Notes were to be converted in full, this would then result in the issue and allotment of a further 2,000,000 new Ordinary Shares.\n \n \n \n \n \n Related Party Transactions\n \n \n \n \n \n Matthew Farnum-Schneider, Chief Executive of the Company, has subscribed for Subscription Shares as outlined below:\n \n \n \n \n \n \n \n \n Shareholder\n \n \n \n \n Number of Existing Ordinary Shares\n \n \n \n \n Number of Subscription Shares subscribed for\n \n \n \n \n Shareholding following the Subscription\n \n \n \n \n \n \n \n % of Enlarged Issued Share Capital\n \n \n \n \n \n \n Matthew Farnum-Schneider\n \n \n \n \n \n 0\n \n \n \n \n 100,000\n \n \n \n \n 100,000\n \n \n \n \n 0.25%\n \n \n \n \n \n \n \n \n Matthew Farnum-Schneider is a director of the Company and therefore classified as a related party under the AIM Rules. Matthew has participated in the Sub...