19th Jun 2015 15:19
LONDON (Alliance News) - Tricor PLC Friday said it has drawn down GBP21,000 under its working capital facility, resulting in the investment company issuing some shares and warrants.
Tricor said it has issued 5.5 million shares at 0.38 pence per share to the provider of the facility, Ellwood International Ltd, and a further 21.1 million warrants which are exercisable at 0.5 pence.
Tricor issued a further 3.2 million shares to Ellwood to pay consultancy fees, which are expected to total around GBP10,000 per month, it said. Following these issues, Ellwood holds 25.3 million shares in Tricor, representing a 16.3% stake.
Tricor has issued another 1.1 million new shares at 0.62 pence each to Chairman Michael Roberts for fees owed to him totalling GBP6,600.
Tricor shares were down 17% to 0.520 pence per share late Friday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Tricor