Issue of Convertible Loan Notes
August 14 2008 - 10:00AM
UK Regulatory
RNS Number : 3643B
MG Capital PLC
14 August 2008
14 August 2008
MG Capital plc
("MG Capital" or "the Company")
Issue of Convertible Loan Notes
MG Capital plc (AIM: MAP) has issued �65,000 of convertible loan notes to Peter Hannen, the Company's Chairman. The loan stock has been
subscribed for in cash at par value. The loan notes carry interest at the rate of 6.5 per cent. per annum and have a life of three years.
The Company may redeem them at any time during that period or, at the option of the holder, they may be converted into new ordinary shares
in the Company. The conversion price is the higher of either the nominal value of the ordinary shares or the average mid market price of
the ordinary shares during the 5 business days prior to the date on which notice of conversion is given.
With the exception of Mr Hannen, who is involved in the transaction as a related party, the directors of MG Capital consider, having
consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are
concerned.
-End-
Enquiries:
Charles Fowler, MG Capital plc 020 7332 2040
Hugh Oram, Nabarro Wells & Co. Limited 020 7634 4705
This information is provided by RNS
The company news service from the London Stock Exchange
END
IODXZLFFVVBLBBV
Mg Capital (LSE:MAP)
Historical Stock Chart
From Jul 2024 to Aug 2024
Mg Capital (LSE:MAP)
Historical Stock Chart
From Aug 2023 to Aug 2024