Insetco PLC Conversion of Loan Notes and Issue of Equity (4756K)

TIDMINC

RNS Number : 4756K

Insetco PLC

16 April 2015

16 April 2015

Insetco plc

("Insetco" or the "Company")

Loan Note Conversions and Issue of Equity

The Company advises that it has received the following requests to convert loans into shares:

 
     Amount   Conversion   New Ordinary           New Shares as 
                   Price         Shares         a Percentage of 
                                           Issued Share Capital 
                                            following Admission 
 
  GBP25,000         0.1p     25,000,000                   1.46% 
 

Following the requests for conversion, the Company will have a total of GBP10,000 of convertible loans outstanding, all of which can convert at 0.025p per resulting in a maximum issue of new equity of 40,000,000 new ordinary shares.

In addition to the amounts stated above, as advised on 4 March 2015, the Company is still in discussions with a holder of unsecured loan notes totalling GBP40,000 to vary the terms of this loan.

Issue of Equity

Application will be made for admission of 25,000,000 new ordinary shares in the Company to the London Stock Exchange which is expected to occur on or around 22 April 2015. The new ordinary shares will rank pari passu with the existing ordinary shares.

Total Voting Rights

Following the issue of equity described above, the so enlarged issued share capital of the Company will comprise 1,715,449,762 ordinary shares of 0.001p each. Each ordinary share carries the right to one vote at general meetings of the Company. The Company does not have any ordinary shares in treasury.

This may be used by shareholders 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 Company under the FCA's Disclosure and Transparency Rules.

 
 Insetco plc 
 Barry Heath                     07788 376480 
 Ivan Couchman                   07970 377669 
 
 Cairn Financial Advisers LLP 
 Jo Turner / Liam Murray         020 7148 7900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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