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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Panther Metals Plc | LSE:PALM | London | Ordinary Share | IM00BRF2WV49 | ORD NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 90.50 | 88.00 | 93.00 | 90.50 | 90.50 | 90.50 | 1,890 | 08:00:03 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 0 | -953k | -0.2355 | -3.84 | 3.66M |
From Jul 2019 to Jul 2024
TIDMPALM
RNS Number : 4698W
Asian Plantations Limited
19 November 2010
19 November 2010
Asian Plantations Limited
("APL" or the "Company")
US$1,000,000 Convertible Bond
Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, is pleased to announce that Asian Agri Capital ("AAC"), an existing shareholder in the Company, has today agreed to purchase, via Asian Agriculture Fund III, a US$1,000,000 convertible unsecured bond (the "Convertible Bond").
The Company intends to use the net proceeds from the Convertible Bond for general working capital purposes, augmenting the Company's existing working capital position.
The Convertible Bond bears a cash interest coupon of 1.75 per cent. per annum, which is payable semi-annually until 18 November 2014 (the "Maturity Date").
The Convertible Bond may be converted, in whole only, into 313,383 new ordinary shares of no par value in the Company. This represents a conversion price of 201 pence per share, at any time until the Maturity Date at the bondholder's election. This conversion price represents a 21.8 per cent. premium to the closing price on 18 November 2010, being the last business day prior to this announcement.
In the event of non-conversion, the Company shall redeem the Convertible Bond, in whole, on the Maturity Date, such that the amount paid by the Company on redemption results in the bondholder having achieved, in respect of the Convertible Bond, including coupon payments, an internal rate of return of 10 per cent.
Dennis Melka, APL's Joint Chief Executive Officer, commenting on the issue of the Convertible Bond, said:
"We are delighted with the additional investment made by AAC and look forward to them remaining a long term shareholder of the Company."
For further information contact:
Asian Plantations Limited Tel: +65 9878 4171 Dennis Melka, Joint Chief Executive Tel: +60 19 856 0221 Officer Graeme Brown, Joint Chief Executive Officer Strand Hanson Limited Tel: +44 (0)20 7409 3494 James Harris Paul Cocker Liam Buswell Panmure Gordon (UK) Limited Tel: +44 (0) 20 7459 3600 Tom Nicholson Edward Farmer Bankside Consultants Tel: +44 (0)20 7367 8871 Simon Rothschild Tel: +44 (0)20 7367 8872 Louise Mason
This information is provided by RNS
The company news service from the London Stock Exchange
END
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