Business
Issue of Debt
Issue of Debt.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n RNS Number : 2236L Brainspark PLC 04 May 2010 \n \n\n4 May 2010\n \nBrainspark plc\n(\"Brainspark\" or the \"Company\")\n \nIssue of Debt\n \nThe Board of Brainspark is pleased to announce that it has launched an issue of up to GBP 10 million 7.00 per cent. convertible bonds due 2014 (the \"Bonds\"). The Bonds are convertible into new ordinary shares of 0.01 pence each in Brainspark (\"New Ordinary Shares\") at a conversion rate of 100,000 New Ordinary Shares per Bond. The nominal value of each Bond is GBP 1,000. \n \nAt the date of this announcement, the Company has placed GBP 3.24 million of the Bonds with investors. The net proceeds have been received by the Company and will be used by Brainspark to satisfy cash consideration which is payable in respect of certain previously announced investments and make further investments in line with the Company's investing strategy. \n \nThe key terms of the Bonds are:\n \n\n\n\n\n· Name of the Bonds\n\n\nGBP 7.00 Brainspark plc, London (CV) 10-2014\n\n\n\n\n· Aggregate amount\n\n\nUp to GBP 10,000,000\n\n\n\n\n· Denomination\n\n\nGBP 1,000 \n\n\n\n\n· Issue date\n\n\n31 March 2010\n\n\n\n\n· Redemption date\n\n\n31 March 2014\n\n\n\n\n· Coupon rate\n\n\n7.00 per cent, payable at the end of each year\n\n\n\n\n· Conversion ratio\n\n\n100,000 New Ordinary Shares for each Bond\n\n\n\n\n· Conversion period\n\n\n31 March 2010 to 15 March 2014\n\n\n\n\n· Placing Agent\n· Depositary Bank\n\n\nTwice S.I.M. S.p.A\nCACEIS Bank Luxembourg (Credit Agricole Group)\n\n\n\n\n\n\n\n\n\n\n\n\n· Repurchase by Brainspark\n\n\nAt any time between 01 and 07 April 2012, the Company may serve notice on all or any bondholders requiring the bondholders to sell their Bond in whole or in part at 110 per cent of the nominal value\n\n\n\n\n· Rights of Conversion\n\n\nAt any time prior to the redemption date of the Bonds, the bondholder may serve a conversion notice on Brainspark in respect of all or an...