Business
Loan Conversion and Change to Total Voting Rights
Loan Conversion and Change to Total Voting Rights.
About this update from Kodal Minerals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7024B\n Kodal Minerals PLC\n 09 October 2020\n \n \n \n \n Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining\n \n \n \n \n \n 9 October 2020\n \n \n \n \n \n Kodal Minerals plc ('Kodal Minerals' \n or the 'Company')\n \n \n \n \n \n Loan Conversion \n \n and Change to Total Voting Rights\n \n \n \n \n \n \n Kodal Minerals, the mineral exploration and development company, announces that it has received a conversion notice in relation to its US$1.5 million unsecured convertible loan agreement (the 'Loan Agreement') with Riverfort Global Opportunities PCC Limited and YA II PN Ltd (the 'Investors'), details of which were announced on 15 July 2020.\n \n \n \n \n \n The Investors have elected to convert a total amount of $102,352.31 (equivalent to £79,271.86), made up of a principal amount of US$100,004.40 and accrued interest of $2,347.91, into \n 125,034,486 new \n ordinary shares of 0.03125p each in the Company ('Ordinary Shares'), at a price of 0.06340 pence per Ordinary Share. \n \n \n \n \n \n Application will be made for the \n 125,034,486 \n new Ordinary Shares being issued on exercise to be admitted to trading on AIM and it is expected that admission will take place on or around 15 October 2020 ('Admission').\n \n \n \n \n \n Total Voting Rights and AIM Rule 17\n \n \n \n \n \n Upon Admission, the issued share capital of the Company will consist of 11,464,229,052 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company from Admission will be 11,464,229,052. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.\n \n \n \n \n \n Pursuant to AIM Rule 17, the Company announces that the shareholding of Suay Chin International Pte Ltd remains at 2,290,471,568 ordinary shares but will represent 19.98% of the Company's issued share capital on Admission. \n \n \n \n \n \n For further information, please visit www.kodalminerals.com or contact the following:\n \n \n \n \n \n \n \n \n \n Kodal Minerals plc\n \n \n  ...