We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bartercard | LSE:BRTR | London | Ordinary Share | GB0033432856 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9506Y Bartercard plc 27 February 2006 Bartercard plc ("Bartercard") Bartercard secures financing of #4,140,000, through issue of convertible notes, and obtains dual listing Bartercard announces that it has entered into agreements with European Entertainment Investments Limited for the issuance and sale by Bartercard of #4,140,000 in convertible notes all due and payable by Bartercard within a one year term from issuance, convertible into 18 million ordinary shares of Bartercard at an average conversion price of 23p per share. The notes will not be interest bearing. The average conversion price represents a 142% premium over average of the daily volume weighted price of Bartercard's ordinary shares in the preceding six months. The convertible notes are not subject to any resets. The outstanding balance of the convertible notes, are redeemable at any time by Bartercard at 110% of the face value. Additionally, Bartercard may require the conversion of the convertible notes based on certain price thresholds being realised in the stock price of Bartercard. Additionally Bartercard is pleased to announce that it has obtained dual listing of its shares on the Frankfurt Stock Exchange and has entered into an agreement with Close Brothers Seydler AG to be the market maker and designated sponsoring broker. Close Brothers Seydler AG is the German 92% majority owned subsidiary of Close Brothers Group plc. The proceeds from the financing are intended to be used to accelerate Bartercard's international expansion and for general working capital. Wayne Sharpe, Chairman of Bartercard said, "This funding will enable Bartercard to expand its operations as we continue to seek additional partnering opportunities in Europe, Asia and North America in pursuit of Bartercard's global expansion. Furthermore, Bartercard believes the support of Close Brothers Seydler AG in Germany on the Frankfurt Stock Exchange will attract German investors to Bartercard and help establish a continental European shareholder base in Bartercard". Nicholas Camilleri, the Chairman / CEO of Navigator Asset Management Advisers Limited based in London, the adviser to European Entertainment Investments said, "We are excited about the potential of the global roll-out of Bartercard's milestone agreement in Australia with four commercial banks allowing Bartercard's customers to process transactions electronically which should materially improve Bartercard's profitability. By providing this funding, we believe Bartercard can greatly accelerate its expansion plans." The new shares underlying the convertible notes and warrants, when issued and fully paid, will rank pari passu with the existing issued Bartercard shares. Bartercard will be making an application within 10 days for the block listing of 24,000,000 ordinary shares with the AIM team at the London Stock Exchange for the new shares underlying the convertible notes and warrants to be admitted to listing on the AIM segment of the London Stock Exchange. Part of the agreement includes the issuance by Bartercard to European Entertainment Investments Limited of warrants exercisable for a period of three years into 6 million ordinary shares of Bartercard at a strike price of 32p per share. 27 February 2006 About Navigator Asset Management Advisers Limited Navigator Asset Management Advisers Limited is a majority owned subsidiary of Navigator Asset Management Limited (Navigator) that is administered by Trident Trust Company in Jersey. Navigator is the 100% owner of several investment vehicles, including European Entertainment Investments Limited. Navigator's vehicles invest in a principal capacity in undervalued publicly traded companies listed on stock exchanges in Australia, the United Kingdom, Canada, Germany, the Netherlands, the U.S. and other jurisdictions, that have business models that can be developed and expanded on a global or regional basis with capital investment. Navigator invests in various sectors including bartering, gaming, betting, natural resources, biosciences, IT and technology. The Navigator group of companies is advised in regulatory matters in the United Kingdom by Jones Day. Contact: Nicholas Camilleri Chairman / CEO Navigator Asset Management Advisers Limited 1st Floor, 55 Conduit Street London W1, U.K. Tel: + 44 20 7494 5900 E-Mail: nc@nav-ltd.co.uk Web: www.nav-ltd.co.uk Wayne Sharpe Executive Chairman Bartercard plc 07909 975488 This information is provided by RNS The company news service from the London Stock Exchange END MSCBCGDDGDDGGLS
1 Year Bartercard Chart |
1 Month Bartercard Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions