25th Apr 2018 11:13
LONDON (Alliance News) - Shares in Flowgroup PLC more than doubled in value on Monday as it issued 5.1 million shares in total following the conversion of loan notes held by funds managed by Palm Venture LLC and Lombard Odier Investment Managers.
Shares in the energy company more than doubled by 107% to 0.028 pence on Wednesday.
A total of 4.2 million shares have been issued in relation to the conversion of notes, and Flowgroup has issued 881,742 convertible loan notes to represent the amount of accrued but unpaid interest on the converted notes.
Following this issue, Palm now holds a 17% interest in Flowgroup, and Lombard Odier 13%.
Flowgroup now has 1.78 billion shares issued overall.
Related Shares:
Flowgroup