12th Feb 2014 11:48
LONDON (Alliance News) - LiteBulb Group Ltd Wednesday said it is to issue 21.1 million shares to Henderson Volantis Capital, after the company asked to convert GBP100,000 of the debt LiteBulb issued in January 2013 together with interest.
In a statement, LiteBulb said it expects the shares to be admitted to AIM on February 17.
The company's issued shares will amount to 2.26 billion after admission.
In January 2013, LiteBulb unveiled plans to issue up to GBP1.5 million of secured convertible loan notes to Henderson Volantis Capital and Novum Securities Ltd in order to fund its growth.
LiteBulb shares were Wednesday quoted at 1.08 pence, down 0.01 pence, or 1.3%.
By Samuel Agini; [email protected]; @samuelagini
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