Business
Convertible Loan Note
Convertible Loan Note.
About this update from Mothercare Plc
[{"type":"text","content":"\n betinternet.com PLC\n26 February 2007\n\n\n\nbetinternet.com plc\n\nFor Release 7:00 am, Monday 26 February 2007\n\nIssue of Convertible Loan Note\n\n\nThe Board of betinternet.com plc, ('betinternet' or 'the Company') the global\non-line gaming group, confirms that on 23 February 2007, the Company entered\ninto a convertible loan note with its major shareholder, Burnbrae Limited \n('Burnbrae'), raising a total of £300,000 for the Company before costs.\n\nUnder the terms of the loan note Burnbrae is entitled to convert that aggregate\namount at the rate of one Ordinary Share for every 7.5p of such amount\nconverted. Conversion of the loan note would result in the issue of 4,000,000\nnew Ordinary Shares which would increase the holding of Burnbrae and its\nconnected parties from 50.05 per cent. to 51.04 per cent. of the issued ordinary\nshare capital of the Company.\n\nThe Board believes that raising this additional finance will enable the Company\nto fund short term working capital requirements and continue the enhancements to\nit sportsbook portal and pari-mutual website.\n\n\n\nFor further information:\n\nBetinterenet.com plc\nGarry Knowles, Managing Director Tele: 01624 698141\n\nJoanne Lake\nEvolution Securities Limited Tele: 0113 243 1619\n\n\n\n\nEND\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1548,"tagName":"div"}]