INC Insetco

TIDMINC

RNS Number : 5667G

Insetco PLC

04 March 2015

This replaces the announcement made (RNS: 5598G) at 15:21 on 4 March 2015 which in error inverted the names "ADM Investor Services International Limited" and "Zentar Securities Ltd".

All other details remain the same. The full amended text is shown below.

4 March 2015

Insetco plc

("Insetco" or the "Company")

Loan Note Conversions and Issue of Equity

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

 
              Shareholder       Amount   Conversion   New Ordinary 
                                              Price         Shares 
 
             ADM Investor 
   Services International 
                  Limited    GBP10,000       0.025p     40,000,000 
        Zentar Securities 
                      Ltd    GBP62,500       0.025p    250,000,000 
 

Following the requests for conversion, the Company will have a total of GBP35,000 of convertible loans outstanding, comprising GBP10,000 which can convert at 0.025p per share and GBP25,000 which can convert at 0.1p per share, resulting in a maximum issue of new equity of 65,000,000 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 290,000,000 new ordinary shares in the Company to the London Stock Exchange which is expected to occur on or around 10 March 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 1,480,449,762 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                     07788 376480 
 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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