INC Insetco

TIDMINC

RNS Number : 2112E

Insetco PLC

05 February 2015

05 February 2015

Insetco plc

("Insetco" or the "Company")

Loan Note Conversion and Issue of Equity

The Company advises that has received the following requests to convert loans into shares:

 
      Amount   Conversion   New Ordinary Shares       Percentage of Issued 
                    Price                          Share Capital following 
                                                                 Admission 
 
  GBP100,000         0.1p           100,000,000                       9.3% 
 

Following the requests for conversion, the Company will have a total of GBP227,500 of convertible loans outstanding, comprising GBP82,500 which can convert at 0.025p per share and GBP145,000 which can convert at 0.1p per share, resulting in a maximum issue of new equity of 475,000,000 new ordinary shares.

In addition to the amounts stated above, as advised on 29 December 2014, the Company is still in discussions with a holder of unsecured loan notes totalling GBP40,000 to vary the terms of this loan.

Issue of Equity

Application will be made for admission of 100,000,000 new ordinary shares in the Company to the London Stock Exchange which is expected to occur on or around 12 February 2015. The new ordinary shares will rank pari passu with the existing ordinary shares.

Total Voting Rights

Following the issue of equity described above, the so enlarged issued share capital of the Company will comprise 1,070,449,762 ordinary shares of 0.001p each. Each ordinary share carries the right to one vote at general meetings of the Company. The Company does not have any ordinary shares in treasury.

This may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

 
 Insetco plc 
 Barry Heath                                020 7866 0639 
 Ivan Couchman                              07970 377669 
 
 Cairn Financial Advisers LLP (Nominated 
  Adviser) 
 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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Insetco (LSE:INC)
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