Business
Convertible Bond and Court He
Convertible Bond and Court He.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n RNS Number : 3896W Brainspark PLC 18 November 2010 \n \n\n \n \n18 November 2010\n \nBrainspark plc\n(\"Brainspark\" or the \"Company\")\n \nCourt hearing and closing of convertible bond \n \n \nBrainspark announces that it has completed the placing of the £10m convertible bond announced on 4 May 2010 (the \"Convertible Bond\"). Proceeds from the placing of the Convertible Bond have been applied to satisfy the outstanding debt due to the creditor referred to in the announcements of 12 and 21 October 2010.\n \nAs a result, Brainspark has agreed with this creditor to adjourn by a further 14 days, to 1 December 2010, the hearing in Companies Court, in order to allow for the final calculations of the legal fees and accrued interest due in relation to the resolution of this matter.\n \nAs a result of the above, the commitment to transfer to the creditor Brainspark's interest in two AIM quoted companies, namely 100,000,000 shares in Daniel Stewart & Company plc (\"DS\") representing 19.6 per cent. of DS and 21,392,829 shares in Vyke Communications plc (\"Vyke\") representing 11.55 per cent. of Vyke, will be waived.\n \nA further announcement will be made after the 1 December 2010 hearing.\n \n \n-ends-\n \nFor further information please contact:\n \n\n\n\n\nBrainspark plc\n\n\n+39 335 296 573\n\n\n\n\nFrancesco Gardin, Chairman\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nArbuthnot Securities\n\n\n+44(0) 20 7012 2000\n\n\n\n\nAntonio Bossi\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLeander PR\n\n\n+44(0) 7795 168 157\n\n\n\n\nChristian Taylor-Wilkinson\n\n\n\n\n\n\n\n \n.\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCGGGCWGUPUPWM \n ","length":4900,"tagName":"div"}]