![](/cdn/assets/images/search/clock.png)
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 |
---|---|---|---|---|---|
Quadnetics Grp | LSE:QDG | London | Ordinary Share | GB0007156838 | ORD 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 290.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS 0793a QUADRANT GROUP PLC 7th May 1998 Quadrant Group Plc Proposed Disposal of Quadrant Precision Manufacturing Inc. and Issue of Convertible Loan Stock As announced on 14th April 1998, Quadrant Group plc ("Quadrant" or "the Company") has agreed, subject to shareholders' approval, to dispose of its 80% beneficial interest in Quadrant Precision Manufacturing, Inc. ("the Disposal"). The minimum gross amount to be received is $2,365,867 being $2m in cash and $0.366m of loan notes as repayment of inter-company debt. Quadrant also proposes to issue convertible loan stock ("the Convertible Loan Stock") to Scawton Limited, a substantial shareholder in Quadrant and a related party to one of Quadrant's directors. A circular was posted to shareholders yesterday setting out full details of the Disposal and the Convertible Loan Stock and convening an Extraordinary General Meeting of the Company on 29th May 1998 to consider resolutions approving both transactions. It is proposed that the Convertible Loan Stock be issued to Scawton Limited on the following terms: - Quadrant will issue Convertible Loan Stock with a nominal value of #550,000 repayable after two years and bearing interest at 12%. - The Convertible Loan Stock will be secured by a debenture granting a fixed and floating charge over the assets of Quadrant Group ranking behind the Group's bankers and other fixed charges. - The Convertible Loan Stock will be convertible at the option of the holder at any time prior to repayment into new ordinary shares of the Company at 100 pence per share. - The maximum amount that may be so converted is limited such that the maximum aggregate holding of Scawton Limited and any person deemed to be acting in concert with it will not exceed 29.99% of the then issued share capital of the Company. The proceeds of the issue of the Convertible Loan Stock will be used to meet the Group's requirements for working capital, investment and refinancing of term debt over the next 18 months. The current trading and prospects of Quadrant Group are as set out in the interim statement published on 31st March 1998. In addition, Quadrant Systems Limited has recently been awarded a contract for a major update and relocation of a Boeing 737 flight simulator for a new airline customer. The Directors expect this contract to generate revenues in excess of #500,000 over approximately 9 months. 7 May 1998 For further information contact: David Coghlan, Chief Executive 01527-850-080 Nigel Poultney, Finance Director 01527-850-080 Claudia Cramoisan, Beeson Gregory 0171-488-4040 END DISSSMFSWUAUFSI
1 Year Quadnetics Chart |
1 Month Quadnetics 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