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Proton Power Systems investor converts part of loan into company shares

Wed, 13th Nov 2019

Fuel cell developer Proton Power Systems said investor Falih Nahab had requested to convert part of a loan to the company into its shares. Nahab held 28% of SFN Cleantech Investment, the company's largest shareholder, and was the brother of its chief executive, Faiz Nahab. He had requested the conversion of part of the interest matured on loans provided by him into 20m shares at a conversion price of 2p each, valued at £0.4m. Admission to trading on AIM of the new shares was expected to take effect on or around 15 November. At 9:30am: (LON:PPS) Proton Power Systems PLC share price was -1p at 23p Story provided by StockMarketWire.com

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