31st Dec 2008 12:33
Cashbox PLC
("Cashbox" or "the Company")
Convertible Loan Note issue
The board of Cashbox is pleased to announce that the Company has today raised £1.5 million, before expenses, by the issue of £1.5 million in nominal value of convertible loan notes.
The notes have the following principal terms:
The notes mature 5 years after the date of issue and are convertible at any time at the option of the holder.
The conversion prices will be at the lower of either:
a premium of 5% per Cashbox ordinary share above the price per share at which new equity is next raised by the Company
the average price of the stock over the three dealing days prior to the date of the instrument
The notes attract a coupon of 8% per annum on the outstanding nominal value of the notes, payable quarterly in arrears
The Noteholder is entitled to appoint a suitable non-executive director to the board of Cashbox
Cashbox can redeem the notes at any time by giving one month's notice. However, if such notice is given, the note holders are entitled to convert the outstanding amount of the notes into ordinary shares during the following 30 days.
Ciaran Morton, CEO of Cashbox, said "I am delighted that we have successfully concluded this convertible loan note issue. We continue to look to expand the Cashbox business, both organically and by acquisition".
For further information:
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Cashbox plc |
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Ciaran Morton , CEO |
Tel: +44 (0) 1256 441000 |
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www.cashboxplc.co.uk |
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Seymour Pierce Limited |
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Jonathan Wright |
Tel: +44 (0) 20 7107 8000 |
Media enquiries:
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Threadneedle Communications |
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Josh Royston / Graham Herring |
Tel: +44 (0) 20 7653 9858 |
Related Shares:
Cake Box Holdi.