Business
Conversion of Loan Notes and TVR
Conversion of Loan Notes and TVR.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9363L Reabold Resources PLC 16 August 2013 \n \n\nFor Immediate Release \n16 August 2013\nREABOLD RESOURCES PLC \n\"Reabold Resources\" or the \"Company\"\nConversion of Loan Notes and TVR\n \nReabold Resources announces that, following the approval of the Shareholders of a waiver of Rule 9 of the Takeover Code on 13 August 2013, it has received a conversion notice from Saltwind Enterprises Limited (\"Saltwind\" or the \"Lender\") in respect of the whole principle amount of the unsecured Loan Notes, details of which are set out in the Circular to Shareholders dated 29 July 2013. \nAccordingly, an application has been made for 104,000,000 New Ordinary Shares to be admitted to trading on AIM and it is expected that admission will occur on or around 22 August 2013. The New Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares.\nSubsequent to the issue of the New Ordinary Shares, Saltwind is now interested in 104,000,000 Ordinary Shares representing 60.85 per cent. of the Company's issued share capital and the Concert Party, being the Lender and Jeremy Edelman, is interested in 124,000,000 Ordinary Shares, representing 72.55 per cent. of the Company's issued share capital. \n \nFollowing the issue of the New Ordinary Shares the Company's share capital will comprise of 170,915,896 Ordinary Shares of 0.1p each, with voting rights, and 6,915,896 \"A\" deferred shares of 1.65p each. The deferred shares are non-voting, are not admitted to trading on AIM and are not entitled to any participation in the profits or the assets of the Company. Therefore the total number of Ordinary Shares with voting rights is 170,915,896 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their inter...