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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nipson Dig. | LSE:NDP | London | Ordinary Share | GB00B01QLJ25 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 4908U Nipson Digital Printing Systems PLC 15 May 2008 For Immediate Release 15 May 2008 NIPSON DIGITAL PRINTING SYSTEMS PLC ("Nipson" or "the Company" or "the Group") PUBLICATION OF ANNUAL REPORT & ACCOUNTS, DATE OF A.G.M., ISSUE OF LOAN NOTES CERTIFICATES PUBLICATION OF ANNUAL REPORT & ACCOUNTS Nipson is pleased to announce the publication of the Group's Annual Report & Accounts for 2007 which were sent by post to shareholders yesterday. The Annual Report appears on the Group's web site: www.nipson.com under the AIM Rule 26 section. This is the first set of accounts issued on an IFRS basis. DATE OF AGM The Notice of the Annual General Meeting is annexed to the Annual Report and also appears on the web site. The meeting will be held at the Company's registered office at 110 Cannon Street, London, EC4N 6AR on the 4 June 2008 at 09:30 am. Proxy voting forms were sent with the Annual Report and are also available via the contacts at the bottom of this announcement. ISSUE OF LOAN NOTES CERTIFICATES Nipson is also pleased to confirm the issuance of 5% unsecured convertible loan notes certificates to D. Roseman Nipson Ltd Partnership (the "Investor") the amount of 2,014,500 Euros (the "Investor Loan Notes") and the conversion by Polar Communications Ltd. ("Polar"), the Company's majority shareholder, of 2,764,500 Euros of its existing debt in the Group into loan notes (the "Polar Loan Notes") according to the proposed terms fully detailed in the Company's Release dated 7 February 2008. Resolutions passed by a General Meeting of the Company held on 28 February 2008 permitted the issuance of the Investor and Polar Loan Notes. The Investor Loan Notes carry a 5% annual interest with the principal payable at the expiration of a three year term and with interest payable annually. The principal of the loan amount may be converted into 1p Ordinary Shares, half at a price of 0.06687 Euros (5p as at 29 January 2008) per Ordinary Share and the other half at a price of 0.093618 Euros (7p as at 29 January 2008) per Ordinary Share. The conversion can take place at any time at the option of the Investor, or at the option of the Company or the Investor in the event of a merger or sale of the Company or its business. In the event of default, the Investor Loan Notes either become immediately due and payable or, at the option of the Investor, convert into ordinary shares of ILS 0.1 each in the capital of Polar (with Polar assuming the rights and benefits of the Investor under the Investor Loan Notes). The Polar Loan Notes are on the same terms as the Investor Loan Notes save that the Polar Loan Notes may not be converted into shares in the capital of Polar and that the Polar Loan Notes are transferable within the Polar Group. As a commission for the funds invested by the Investor and in addition to a cash commission equaling 5% of the funds invested by the Investor, D.Roseman ("D. Roseman") was issued 1,255,234 Warrants over 1p Ordinary Shares of the Company, exercisable for a period of three years, at a price per Ordinary Share of 0.06687 Euros in regard to one half of the Warrants and 0.093618 Euros in regard to the other half. It should be noted that, in the event that there is a subsequent conversion by the Investor and by Polar of the Investor and Polar Loan Notes and assuming the exercise of the Warrants, Polar would be interested in approximately 55.53% of the so enlarged share capital, the Investor would be interested in 22.49%, D Roseman would be interested in 1.09% and the interests of existing Shareholders (excluding Polar, but including Nipson Directors) would be diluted from 45.38% to 20.88%. This liquidity provides the Company with additional funding for its working capital beyond the levels agreed with its bankers and its majority shareholder, Polar. Ends Contacts Nipson Digital Printing Systems PLC Robert Cahill, Group Finance Director +33 (0)384 545 250 Beaumont Cornish Limited Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 This information is provided by RNS The company news service from the London Stock Exchange END ACSBRGDUGDBGGIS
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