11th Feb 2015 12:33
LONDON (Alliance News) - Herencia Resources PLC Wednesday said it has converted a loan note into 379.1 million new shares, as part of an agreement with The Australian Special Opportunity Fund, a New York-based institutional investor managed by The Lind Partners.
Herencia said Lind Partners served a notice to convert USD575,000 of their remaining USD600,000 note. It issued the 379.1 million new shares at a price of 0.1 pence each.
Following the issue of convertible shares, Herencia now has a total of 3.62 billion shares in issuance. Lind Partners now directly holds 515.6 million shares in Herencia, representing a 14.25% shareholding in the company. Lind also hold the option to subscribe for 25 million new shares.
Herencia shares were trading 2.3% higher Wednesday early afternoon, at 0.225 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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