30th Dec 2013 09:26
LONDON (Alliance News) - Concha PLC said Monday it had raised GBP200,000 from a share placing and grant of a put and call option.
The AIM-listed media, communications and technology investment company said it placed 50 million new shares at a price of 0.20 pence per share with new investors. It also has entered into a put and call option over a further 50 million shares at the same subscription price and exercisable on or before February 14, 2014.
Concha shares were down 10% at 0.175 pence early Monday.
As part of the placing, Concha said it also has issued one warrant for each placing share and option. The warrants on the placing shares are exercisable into shares at 0.25p per share prior to December 31, 2016, while the warrants on the options are exercisable at the same price until February 14, 2017.
Concha said it is continuing to press its claim with the administrators of Moshen Ltd for repayment of a GBP300,000 loan it made to Moshen. It said it also has yet to receive a satisfactory proposal from Churchill Media Ltd for the repayment of an outstanding loan it made to that company.
By Tom Waite; [email protected]; @thomaslwaite
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