18th Mar 2016 14:17
LONDON (Alliance News) - Arria NLG PLC on Friday said it has agreed a GBP1.4 million loan note subscription deal with investors.
The unsecured loan notes are convertible into Arria shares at 40 pence each and will be issued shortly.
Of the subscription, GBP420,000 relates to outstanding funds, and Arria said it is in discussions with potential investors to raise further funds through additional loan note issues.
The interest on the loan notes is 0.5% plus 5% payable annually in cash or upon maturity, which is October 31, 2019.
Subscribers for the loan notes will receive unlisted warrants to subscribe for new shares in the company, exercisable up to June 11, 2019 at 12p each.
Arria added that it continues to explore a possible listing on the New Zealand Stock Exchange together with an equity fundraising.
Shares in Arria were trading up 1.2% at 25.05p on Friday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
NLG.L