Conroy Gold & Natural Resources Plc Loan Conversion

 
TIDMCGNR 
 
25 October 2022 
 
                     Conroy Gold and Natural Resources plc 
 
                       ("Conroy Gold" or the "Company") 
 
                                LOAN CONVERSION 
 
On 30 October 2019, the Company announced that it had raised ?100,000 through 
the issue of an unsecured convertible loan note (the "Convertible Loan Note") 
to Hard Metal Machine Tools Limited (the "Lender"). The Convertible Loan Note 
had a term of three years and attracted interest at a rate of 5% per annum 
which was to be payable on the redemption or conversion of the Convertible Loan 
Note. The Convertible Loan Note, including the total amount of accrued but 
unpaid interest, was convertible at a conversion price ("Conversion Price") of 
£0.06. The Lender is a company controlled by Mr Philip Hannigan, an existing 
shareholder in the Company. 
 
The Company today announces that it has received notice of conversion (the " 
Conversion") from the Lender in relation to the Convertible Loan Note. At the 
Conversion Price, the loan and all accrued interest (£103,475.34 as at 27th 
October 2022) is convertible into 1,724,589 new Ordinary Shares ("Ordinary 
Shares") in the Company. 
 
Application has been made to the London Stock Exchange for the 1,724,589 new 
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected 
that Admission will become effective on, or around, 28 October 2022. 
 
Following the Conversion, Mr Philip Hannigan is expected to have a beneficial 
interest in a total of 8,588,075 Ordinary Shares in the Company representing 
19.19% of the issued share capital of the Company on Admission. 
 
Total Voting Rights 
 
Following the Conversion, the issued share capital of the Company will comprise 
44,756,101 ordinary shares of ?0.001, with one voting right per share. The 
Company does not hold any shares in treasury. Therefore, the total number of 
Ordinary Shares and voting rights in the Company will be 44,756,101. 
 
Following the Conversion, the above figure may be used by shareholders in the 
Company 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 share capital of the Company under the FCA's Disclosure Guidance and 
Transparency Rules. 
 
For further information please contact: 
 
Conroy Gold and Natural Resources plc                Tel: [phone] 
 
Professor Richard Conroy, Chairman 
 
                                                     Tel: [phone] 
Allenby Capital Limited (Nomad) 
 
Nick Athanas/Nick Harriss 
 
 
First Equity Limited (Broker)                        Tel: [phone] 
Jason Robertson 
 
Lothbury Financial Services                          Tel: [phone] 
 
Michael Padley 
 
Hall Communications                                  Tel: [phone] 
 
Don Hall 
 
Visit the website at: http://www.conroygoldandnaturalresources.com/ 
 
 
 
END 
 
 

(END) Dow Jones Newswires

October 25, 2022 02:00 ET (06:00 GMT)