Business
Conversion of Loan Notes
Conversion of Loan Notes.
About this update from Pulsar Group Plc
[{"type":"text","content":"\n \nRNS Number : 5139A Access Intelligence PLC 29 December 2017 \n\nPrior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n29 December 2017\nACCESS INTELLIGENCE PLC\n(\"Access Intelligence\", \"the Company\" or \"the Group\")\nConversion of Loan Notes\n \nAccess Intelligence plc (AIM: ACC), a leading supplier of Software-as-a-Service (SaaS) solutions for communications and reputation management, is pleased to announce that both the holders of the £1.25 million nominal unsecured convertible redeemable loan notes issued on 30 June 2009 (as subsequently varied) (\"the 2009 CLNs\") and all the holders of the £1.1 million nominal five year unsecured convertible redeemable loan notes issued on 8 December 2014 (\"the 2014 CLNs\") have delivered conversion notices to the Company effective yesterday.\n \nThe 2009 CLNs will convert into 31,250,000 new Ordinary Shares at a conversion price of 4p per share in accordance with the terms of the 2009 CLNs. Application has been made for 31,250,000 new Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange and dealings are expected to commence on 3 January 2018 (\"First Admission\").\n \nThe 2014 CLNs will convert into 36,666,665 new Ordinary Shares at a conversion price of 3p per share in accordance with the terms of the 2009 CLNs. Under the terms of the 2014 CLNs the holders are required to give 30 days' notice of conversion. Accordingly, the conversion of the 2014 CLNs will take effect on 29 January 2018. Application will be made for 36,666,665 new Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange and dealings are expected to commence on 29 January 2018 (\"Second Admission\").\n \nAccess Intelligence CEO Joanna Arnold said \"We are delighted that all the Loan Note holders have converted their holdings of Loan Notes in to Ordinary Shares. This demonstrates strong support from the Company's largest shareholders, improves our balance sheet and removes a significant interest burden from the Company.\n \nThe ...