Business
Conversion of Loan Notes
Conversion of Loan Notes.
About this update from Tertiary Minerals Plc
[{"type":"text","content":"\n Tertiary Minerals PLC\n15 May 2006\n\n\n\n www.tertiaryminerals.com\n\n 15 May 2006\n\n\n Conversion of Loan Notes\n\nTertiary Minerals plc ('the Company') announces that Al Nahla Trading &\nContracting Co. ('Al Nahla'), a member of the Saudi consortium funding\npreliminary and bankable feasibility studies for development of the Company's\nworld-class Ghurayyah tantalum-niobium-zircon (yttrium-uranium) project in Saudi\nArabia, has also elected to convert its entire holding of $US425,000 nominal of\nconvertible loan notes into ordinary shares in the Company.\n\nUnder the terms of the convertible loan notes, conversion will take place at 15p\nper share. Accordingly, Al Nahla will be issued with 1,503,095 new ordinary\nshares in the Company. This follows the conversion, announced on 27 April, of\nconvertible loan notes held by A.H.Algosaibi & Bros. Co. and consequently all\nconvertible loan notes previously issued have now been converted. As a result of\nconversion Al Nahla's interest will increase from 4.7% to 7.3% of the enlarged\nissued share capital of the Company.\n\nApplication will be made for the new ordinary shares to be admitted to trading\non AIM and dealings in these shares are expected to commence at 8.00 a.m. on\nThursday 18 May 2006.\n\nFurther information please contact:\nPatrick Cheetham, Tertiary Minerals plc. Tel: +44 (0)1625-626203. Mob: +44 (0)\n7767-458751\n\nJohn Greenhalgh/Ron Marshman, City of London PR Ltd. Tel: +44 ( 0)20-7628-5518\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1811,"tagName":"div"}]