INC Insetco

TIDMINC

RNS Number : 6973Z

Insetco PLC

12 December 2014

12 December 2014

Insetco plc

("Insetco" or the "Company")

Issue of Convertible Loan Notes

The Company is pleased to advise that it has raised GBP250,000 through the issue of 8 per cent. interest bearing, unsecured convertible loan notes (the "Notes"). The funds raised provide the Company with additional working capital needed to support the provision of the administrative services, as announced on 26 November 2014, and to allow for further strategic investment in Canada.

The Notes are due for repayment on 27 November 2017 or, on the election of holders of the Notes, may be converted in whole or in part into new Insetco ordinary shares, at a conversion price of 0.1 pence per new ordinary share.

Full conversion of the Notes would result in the issue of 250,000,000 new ordinary shares, representing approximately 20.9 per cent. of the issued share capital (as enlarged thereby) of the Company.

 
Insetco plc 
Barry Heath                    020 7866 0639 
Ivan Couchman                  07970 377669 
 
Cairn Financial Advisers LLP 
Jo Turner / Liam Murray        020 7148 7900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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