13th Feb 2015 09:20
LONDON (Alliance News) - Flying Brands Ltd on Friday said it has appointed a new chairman and has raised GBP300,000 via a convertible loan note issue.
Flying Brands said Michael Murphy has been appointed as its new chairman. He also is the chairman and chief executive of stockbroker Novus Capital Markets Ltd.
The company has also appointed Trevor Brown to the board as chief executive director. He is currently a non-executive director at Feedback PLC, Braveheart Group PLC and Peterhouse Corporate Finance.
The pair have been brought in by the company in order to determine the best use of the proceeds from the sale of its Retreat Farm property in Jersey.
In addition the board appointments, the company has raised GBP300,000 through the issue of convertible loan notes, convertible into shares in the company at 1.10 pence per share.
The convertible loan note has been provided by Peterhouse Corporate Finance.
Shares in Flying Brands were untraded on Friday, having last traded at 1.85p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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