13th Aug 2019 12:39
(Alliance News) - Investment company Highway Capital PLC said on Tuesday that it has altered an existing GBP100,000 loan into a convertible loan.
The unnamed lender agreed to change the terms so it is convertible into ordinary shares at a price of 0.05 pence each.
The altered note has a five-year term with a 5% annual interest rate.
The initial loan was issued in December and was repayable in two years, also carrying a 5% annual interest rate.
Shares in Highway Capital were untraded on Tuesday in London, last quoted at 15.00 pence each.
Related Shares:
Highway Capital