Peninsular Gold Limited Convertible Redeemable Unsecure Loan Notes (2771W)
24 12월 2013 - 1:15AM
UK Regulatory
TIDMPGL
RNS Number : 2771W
Peninsular Gold Limited
23 December 2013
PENINSULAR GOLD LIMITED
CONVERTIBLE REDEEMABLE UNSECURED LOAN NOTES
The Company is pleased to announce that it has raised
GBP1,200,000 (before expenses) by way of the issue of 1,200,000
convertible redeemable unsecured loan notes ("Loan Notes") pursuant
to a Convertible Loan Note Instrument dated 23 December 2013 ("Loan
Note Instrument").
The funds from the Loan Notes will be used to meet the general
working capital requirements of the Company and its
subsidiaries.
The principal terms of the Loan Notes are as follows:
(a) Interest is payable upon the Loan Notes at the rate of 6%
per annum payable on maturity which would be GBP72,000. If the Loan
Notes are converted then no interest is payable.
(b) The Loan Notes are repayable in one bullet repayment one
year from the date of the Loan Note Instrument unless the Company
elects to redeem the Loan Notes earlier;
(c) A noteholder has the right at any time to convert the
principal amount of its Loan Notes into new ordinary shares of no
par value in the capital of the Company ("Ordinary Shares"). The
number of Ordinary Shares to be issued on conversion shall equal
the number of Loan Notes to be converted divided by a conversion
factor of 0.12. The right to convert is conditional upon a
noteholder making an additional payment to the Company on
conversion of 3 pence for each Ordinary Share to be issued on
conversion. The maximum number of Ordinary Shares which would be
issued on full conversion is 10,000,000 representing approximately
11.6% of the Company's current issued share capital and
approximately 10.4% of the enlarged share capital. Full conversion
would result in an additional total payment to the Company of
GBP300,000.
(d) Upon redemption of the Loan Notes by the Company, either at
maturity or earlier, a Noteholder is entitled to receive from the
Company an additional payment equal to the number of Convertible
Notes to be redeemed by the relevant Noteholder divided by 0.12 and
multiplied by 3 pence. If all Convertible Notes are redeemed and
not converted this would result in an additional payment of
GBP300,000
(e) The Loan Notes are non transferable without the prior written consent of the Company.
Further information:
Dato' Sri Andrew TY Kam Patrick Watson
Chairman and Chief Executive Finance Director
Peninsular Gold Limited Peninsular Gold Ltd.
Tel: +60 (0)3 2698 8381 Tel: +44 (0)7799 885653
------------------------------- ---------------------------
Samantha Harrison / Jen Boorer Colin Rowbury
Nominated Advisor Broker
RFC Ambrian Limited Daniel Stewart & Co. Ltd.
Tel: +44 (0)20 3440 6800 Tel: +44 (0)20 7776 6936
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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