Quadrant Group PLC
9 November 1999
Quadrant Group PLC ('the Company')
Issue of Warrants
Following approval at the Company's Extraordinary General
Meeting on 27 September 1999 Mr D J Coghlan, a director of the
Company, notified the Company on 8 November 1999, that Scawton
Limited, a company with whom he is associated, has been issued
with 550,000 warrants to subscribe for Ordinary shares of 20p
each, at £1.00 per share.
The warrants were issued as consideration for early redemption
of £550,000 Convertible Loan Stock held by Scawton Limited.
The Loan Stock, which bore a fixed interest rate of 12% per
annum and was redeemable on 29 May 2000, gave the holder the
right to convert any or all of the loan into Ordinary shares
at a conversion price of £1 per share at any time prior to
redemption.