15th Oct 2014 07:40
LONDON (Alliance News) - PeerTV PLC saw its shares rise early Wednesday after it issued shares to convert some unsecured loan notes and for payment of fees at higher prices than its existing share price.
In a statement, the company said it had issued 73.8 million new shares at 0.4417 pence each as a result of converting GBP326,014 of 8% unsecured loan notes. It also issued 7 million shares in lieu of payment of outstanding fees at 0.25 pence a share, and 10 million shares as part payment of loans to its PeerTV Ltd and SM Digitek (1993) Ltd subsidiaries at the same price.
PeerTV shares were up 17.5% at 0.235 pence early Wednesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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