30th Apr 2014 09:16
LONDON (Alliance News) - F&C Global Smaller Companies PLC Wednesday said it is considering issuing convertible unsecured loan stock of up to GBP40 million as one option to replace the GBP10 million 11.5% debenture stock that matures in December.
In a statement, the company said it has been reviewing whether to replace the structural gearing which the debenture stock has offered, and has been considering the form of any replacement debt security.
It said it will make a further announcement in due course and would seek shareholder approval if it decides to proceed with a convertible loan stock issue.
The trust's shares were down 0.1% at 848 pence Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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