9th Jan 2015 17:06
LONDON (Alliance News) - Northcote Energy Ltd said it has issued over 20 million shares to Darwin Strategic Ltd after receiving the receipt of a conversion note in December.
The shares have been issued to satisfy the GBP50,000 loan amount with Darwin, representing 1.5% of the issued share capital in the company at a conversion price of 0.25 pence per share.
Following the conversion, the outstanding balance of the nil coupon convertible loan note is just over GBP1 million.
Northcote shares closed up 6.8% to 0.251 pence per share on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
NCT.L