Milestone Group PLC Milestone Group Plc : Issue Of Equity, Convertible Loans And Issue Of Warrants

 
TIDMMSG 
 
 
   MILESTONE GROUP PLC 
 
   ("Milestone" or the "Company") 
 
   Issue of Equity, Convertible Loans and Issue of Warrants 
 
   Milestone (AIM:MSG), the AIM quoted provider of digital media and 
technology, announces that it has agreed to issue a total of 116,666,669 
new ordinary shares of 0.1pence per share in the Company at a price of 
0.15 pence per share. 
 
   The Company will raise GBP145,000 in cash through the issue of 
96,666,667 Subscription Shares and will settle an existing creditor 
balance of GBP30,000 through the issue of 20,000,000 Conversion Shares. 
 
   The 116,666,669 new ordinary shares will rank pari passu with the 
existing ordinary shares of Milestone.  Application will be made for the 
116,666,669 ordinary shares to be admitted to trading on AIM, which is 
expected to occur on or around 23 March 2018. 
 
   Unsecured Convertible Loan Note 
 
   The Company also announces that it has raised GBP105,000 (which would 
convert in up to 70,000,001 Loan Conversion Shares by way of a 
convertible loan at a price of 0.15 pence per share, the convertible 
loan note is interest-free and can be repaid by the Company at any time 
prior to 31 March 2019. 
 
   Issue of Warrants 
 
   The Company has agreed to issue warrants to the holders of the 
Subscription Shares and the Loan Conversion Shares, consequently the 
Company has issued warrants over 166,666,670 new ordinary shares, 
exercisable at a price of 0.25 pence per share at any time up until 19 
March 2019. 
 
   Total Voting Rights 
 
   Following the issue, Milestone will have in issue 1,925,434,986 ordinary 
shares with voting rights.  The above figure 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 Disclosure and Transparency Rules. 
 
   Following the Warrant issue, the Company will have 162,702,116 options 
and 385,098,130 warrants in issue. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   For further information: 
 
 
 
 
Milestone Group PLC                              Tel: [phone] 
 Tony Sanders 
Cairn Financial Advisers LLP, Nominated Adviser  Tel: [phone] 
 Liam Murray / Jo Turner 
Hybridan LLP, Broker                             Tel: [phone] 
 Claire Louise Noyce 
 
 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Milestone Group PLC via Globenewswire 
 
 
  http://www.milestonegroup.co.uk/ 
 

(END) Dow Jones Newswires

March 20, 2018 03:00 ET (07:00 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.