29th Sep 2014 10:28
LONDON (Alliance News) - CIC Capital Ltd Monday said it has granted convertible loan facilities to CIC Capital Ltd Seychelles and CIC Gold Group Ltd.
CIC Capital Seychelles was granted unsecured, convertible loans of GBP150,000 paid on May 7 and GBP1.2 million to be drawn down in October.
CIC Gold has been given an unsecured convertible loan comprising GBP302,275 paid on August 19 and a further GBP1.4 million to be drawn down in October.
CIC said the funds are to provide working capital for the two businesses and to settle advisory and public listing fees of those companies.
CIC said the loans are convertible into shares are 6.00p.
CIC Capital shares were untraded on Monday, quoted at 3.375 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.