28th Jan 2014 08:56
LONDON (Alliance News) - Amphion Innovations PLC Tuesday said it had reached agreement with holders of its convertible promissory notes to extent the conversion date on the notes to December 31, 2015 on revised terms.
In a statement, the company said the notes are now convertible at 10 pence, and will pay interest of 7% if paid in shares or 5% if paid in cash or additional notes. It will also issue two warrants for each GBP1 of note. Each warrant entitles the holder to subscribe for one share at 12 pence a share.
Amphion Innovations shares last traded at 3.375 pence each.
By Steve McGrath; [email protected]; @SteveMcGrath1
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