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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Oneview Grp | LSE:ONEV | London | Ordinary Share | GB00BDCL4103 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMONEV
RNS Number : 8879Q
OneView Group PLC
05 December 2016
5 December 2016
OneView Group plc
("OneView" or the "Company")
Additional Loan Facility
OneView (AIM: ONEV), one of the retail industry's leading digital transformation software providers for in store customer service, is pleased to announce that Lane Capital Group Limited ("LCG") has agreed to provide an additional loan facility of $1 million on similar terms to that of the existing $3m facility, which is fully drawn. The loan will be used to cover short term working capital needs around the Company's new business contracts.
LCG is a significant shareholder in the Company and is wholly owned by Gary Lane, a Non-Executive director, and his immediate family. The new loan facility ("the Facility") is due for repayment on 30 May 2017, and is convertible into ordinary shares in OneView at the 10 day average mid-price prior to the 1 December 2016. The conversion price will be reduced to the price at which any subsequent equity is raised, if lower than the 10 day average. Hawk Investment Holdings Limited ("Hawk") has agreed to contribute 50% of the loan when it has sufficient funding available. Hawk is controlled by the Morton Private Trust Company. Both Hawk and LCG have undertaken not to convert amounts due under the Facility if such conversion would result in either party holding more than 29.99% of the ordinary share capital of the Company. Under the Facility, interest is payable at 12% per annum and the loan is secured over the assets of the Company and certain assets of Stuart Mitchell, CEO.
Given the significant shareholdings of LCG and Hawk and the board position held by Gary Lane, the new Facility is deemed a related party transaction under the AIM Rules for Companies. The independent Directors (being all those other than Gary Lane), having consulted with finnCap, consider that the terms of the new Facility are fair and reasonable insofar as the Company's shareholders are concerned.
Further Details:
Hot Features
Premium
OneView Group Tel: 01634
plc 673172
Stuart Mitchell,
CEO
Linda Palanza,
COO
Mark Wilson, Finance
Director
finnCap Limited Tel: 020 7220
0500
Geoff Nash
Kate Bannatyne
Stephen Norcross
(Broking)
Hybridan Tel: 020 3764
2341
Claire Noyce (Broking)
Newgate Communications Tel: 020 7653
9848
Bob Huxford
Lydia Thompson
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUSSRRNRAURAA
(END) Dow Jones Newswires
December 05, 2016 02:45 ET (07:45 GMT)
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