26th Jan 2017 09:45
LONDON (Alliance News) - BNN Technology PLC said Thursday it is issuing shares, having serviced a notice of conversion on GBP2.4 million in outstanding loan notes.
AIM-listed BNN, which operates largely in China as a technology and content company, said it will issue around 2.1 million new shares to the holder of the notes, Stadium Parkgate (Holdings) Ltd, at 115 pence each.
Shares in BNN Technology were up 3.1% at 126.50p Thursday morning.
The notes were issued in April 2016 and convertible at the lower of 115p or the closing share price on December 31 at any time in January.
By Adam Clark; [email protected]
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