21st Aug 2014 08:58
LONDON (Alliance News) - Cyprotex PLC Thursday said it has written to holders of its GBP3.0 million fixed rate redeemable loan notes and GBP4.0 million fixed rate convertible loan notes to seek their consent for the notes to be listed on the Cayman Islands Stock Exchange.
"The board believes that a listing of the loan notes makes them more widely available and attractive to investors as well as simplifying the ongoing administration of the loan notes by the company," Cyprotex said in a statement.
Certain of the loan note holders, representing in aggregate 89.89% of the convertible notes and 100% of the redeemable notes, have irrevocably undertaken to vote in favour of the relevant resolutions.
In addition, certain company directors who hold convertible notes, representing 0.98% of the convertible notes, have irrevocably undertaken to vote in favour of the relevant resolution, according to Cyprotex.
Cyprotex shares were Thursday untraded at 61.50 pence.
By Samuel Agini; [email protected]; @samuelagini
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