Business
Exercise of Warrants and Convertible Loan Stock
Exercise of Warrants and Convertible Loan Stock.
About this update from Time Finance Plc
[{"type":"text","content":"\n \nFOR IMMEDIATE RELEASE 6 December 2005\n\n Timestrip PLC (`Timestrip' or the `Company') \n\n Exercise of Warrants and Convertible Loan Stock \n\nTimestrip announces that it has received requests to exercise the following:\n\n166,666 Placing Warrants;\n\n5,000,000 A Warrants on behalf of Lloyd Traders Inc, a company owned jointly by\nStephen Oakes, Chairman, Timestrip PLC, Leo Knifton and Nigel Weller; and\n\n£50,000 convertible loan stock on behalf of General Commerce and Investment\nTrust Reg (`GCIT').\n\nBoth Lloyd Traders Inc and GCIT were investors in the original Internet Music &\nMedia `shell' and as such their holdings were detailed in the Admission\nDocument issued in February this year. Following the exercise of the A Warrants\nabove, Lloyd Traders Inc hold 15,408,470 ordinary shares, representing 5.17% of\nthe issued ordinary share capital. The holding remains subject to the `lock-in'\nprovisions as detailed in that document.\n\nAccordingly the Company will issue a total of 11,416,666 ordinary shares of\n0.02p each (the `Shares'). The shares will rank, pari passu, with the existing\nordinary shares and application will be made for the Shares to be admitted to\ntrading on AIM.\n\nContact: Paul Freedman, Timestrip plc on 01462 440700\n\nRoland Cornish, Beaumont Cornish Limited on 020 7628 3396.\n\n\n \n ","length":1548,"tagName":"div"}]