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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Creative Educ | LSE:CEC | London | Ordinary Share | GB0032667916 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.10 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4180I Creative Education Corp Plc 04 September 2006 Creative Education Corporation Plc ("CEC" or "the Company") Fundraising and impending notice of EGM CEC announces that it has raised #1,000,000 by way of convertible unsecured loan stock ("Loan Stock") to provide additional working capital for the Company. The principle terms of the Loan Stock are as follows: * the Loan Stock will convert automatically into new fully paid ordinary shares of 0.1p nominal value each in the capital of the Company on the passing, before the repayment date, at an extraordinary general meeting of the Company of resolutions to include a capital reorganisation of the Company to divide the existing 1p ordinary shares into ordinary shares of 0.1p and deferred shares of 0.9p each; * on such a conversion, the Loan Stock shall convert into fully paid ordinary shares at a conversion price of 0.33 pence per share, equivalent to 303 new ordinary shares per #1 nominal of Loan Stock; * the Loan Stock is repayable on 30 November 2006; and * unless converted or repaid prior to 30 November 2006 the Loan Stock will be repaid with accrued interest at a rate of 2 per cent. above the base rate of Bank of Scotland plc, calculated on a daily basis from 1 September 2006. The Company is currently producing the appropriate circular to be sent to shareholders with full details of a further fundraising to enable a turnaround of the Group's nurseries, as well as amongst other things, details of the capital reorganisation. It is anticipated that such document will be announced and posted to shareholders by 31 October 2006. Enquiries: Paul Ayres - CEC 07870 210643 Olly Cairns / Jonathan Evans - Corporate Synergy Plc 020 7448 4400 This information is provided by RNS The company news service from the London Stock Exchange END MSCMGGGLGDZGVZM
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