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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kin Group | LSE:KIN | London | Ordinary Share | GB00BZ7M6059 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKIN
RNS Number : 8430J
Kin Group PLC
03 July 2017
Kin Group Plc / Epic: KIN / Index: AIM
RNS ANNOUNCEMENT: The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
3 July 2017
KIN GROUP PLC ('KIN' OR 'THE COMPANY')
Conversion of GBP75,000 of Loan Notes, Issue of Warrants, Issue of Equity and Total Voting Rights
Kin Group Plc (AIM: KIN.L), the AIM quoted digital wellness provider for corporate organisations, trading as Kin Wellness, hereby announces that on 30 June 2017 it received a notice of conversion in respect of GBP75,000 in nominal value of the Loan Notes ("Notes") which were issued to Belastock Capital L.P. ("Belastock").
Definitions used in this announcement are taken from the Company's announcements dated 15 May 2017 ("Notes Announcement") unless otherwise stated.
Conversion of Notes, Issue of Warrants and Issue of Equity
The GBP75,000 of Notes have been converted at the closing bid price for the Company's ordinary shares (as reported by Bloomberg) on 29 June 2017 being 0.075 pence per ordinary share ("Conversion") resulting in the issue of 100,000,000 new ordinary shares (the "Conversion Shares").
Under the terms of the Conversion the Company has also issued Belastock with a warrant over 100,000,000 new ordinary shares in the Company with an exercise price the lower of:-
1 90% of the lowest closing bid price for the Company's ordinary shares for the three consecutive trading days ending prior to service of the relevant exercise notice; or
2 0.09375 pence per share.
The terms of the Warrants are as stated in the Notes Announcement.
Application will be made for the admission of the Conversion Shares to trading on AIM and it is expected that dealings in the Conversion Shares will commence on or around 6 July 2017. The Conversion Shares will rank pari passu in all respects with the Company's existing ordinary shares.
Total Voting Rights
Following admission of the Conversion Shares, the total issued share capital of the Company will consist of 1,931,366,968 ordinary shares. As such the total number of voting rights in the Company will be 1,931,366,968 ordinary shares. This number 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.
-Ends-
For further information visit www.kinwellness.com
Contact:
Anna Gudmundson / Donald Stewart Kin Group Plc 020 7449 4949 SPARK Advisory Mark Brady / Neil Partners Limited Baldwin (Nominated Advisor) 020 3368 3551 Hybridan LLP, Claire Louise Noyce Broker 020 3764 2341 T/F/D, Public Stephanie Forrest Relations 07917 695755
Notes
About Kin Wellness
Kin Wellness provides digital wellness solutions that empower employers to create a positive culture of health within their organisation. By helping employees to embrace a healthier way of living, Kin Wellness can help maximise performance, reduce absenteeism, decrease the risk of chronic illness, and lower healthcare costs.
The Company's technological edge allows it to address holistic wellness by engaging both individuals and teams through intelligent, personalised interaction and gamification. This is an opportunity to make incremental behavioural changes that will last a lifetime. The progress of individuals translates to actionable data, meaningful reporting and insights that allow the organisation to monitor the impact of the programme and to refine it in order to achieve success.
Shares are admitted to trading on the London Stock Exchange AIM market under ticker KIN.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEUURKRBUABRAR
(END) Dow Jones Newswires
July 03, 2017 02:00 ET (06:00 GMT)
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