26th Feb 2014 14:39
LONDON (Alliance News) - Mirada PLC said Wednesday that Webb Capital Asset Management Ltd will have a 4.06% interest in the company following the conversion of an outstanding loan by State Street Nominees Ltd.
State Street is converting its remaining loan of GBP100,000 to be converted into one million new ordinary shares. State Street's interest is controlled by Webb Capital.
Following this conversion Mirada will have fully completed the repayment of the convertible loan.
"I am very glad to report the conversion of the outstanding balance of the convertible loan, which has been fully cancelled during the last year, and further demonstrates strong support from our shareholders to the future of the Company," said Chief Executive Officer José Luis Vazquez in a statement.
Shares in the broadcasting products company last traded down 1.1% at 11.75 pence.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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