16th Nov 2007 07:01
Earthport PLC16 November 2007 16 November 2007 Earthport plc ('Earthport' or the 'Company') Issue of Loan Stock and Exercise of Warrants Earthport, the specialist electronic payments company, announces that, as anaddendum to the issue of Equity previously announced on 27 September 2007, theCompany has issued £750,000 of 2007 Convertible Loan Stock, which carries a zerocoupon until 31 December 2007 and 10% per annum thereafter. The note isconvertible at the option of the note holder into new Ordinary Shares of 10peach at a conversion price of 31p per new Ordinary Share, in line with the issueof Equity. The note matures on 30 June 2008. This issue of Loan Stock concludesthe funding round. In addition, following the receipt of valid exercises of Warrants on 31 October2007, 1,035,197 new Ordinary Shares of 10p each in the Company have been issuedand allotted at a price of 31.5p per new Ordinary Share, raising £326,087 forthe Company. Application has been made for the 1,035,197 new Ordinary Shares to be admittedto trading on AIM and it is anticipated that admission will occur on Wednesday21 November 2007. The new Ordinary Shares will rank pari passu with the existing Ordinary Sharesin the Company. Following the admission of the new Ordinary Shares, the Company's issued sharecapital will consist of 65,991,261 ordinary shares of 10p each, with votingrights. This figure may be used by shareholders in the Company, to determine if they arerequired to notify their interest in, or a change in their interest in, theshare capital of the Company under the FSA's Disclosure and Transparency rules. - Ends - Press Enquiries Mike Harrison, Chairman - Earthport plc +44 20 7220 9700Chris Bowman/Adria da Breo - Canaccord Adams Limited +44 20 7050 6500Jonathon Brill/Billy Clegg/Annie Evangeli - FD +44 20 7831 3113 Notes to Editors Earthport plc Earthport (www.earthport.com) specialises in the international transactionalmarketplace by providing a highly secure, high volume global collection andpayment capability. It has been making national and international payments andcollections since 1998. Earthport is a public company and is listed on the Alternative Investment Market(AIM) on the London Stock Exchange. Earthport own, provide and host aninternational money movement platform called the Universal Payments Network.Using this platform, Earthport makes secure, low cost international bankpayments and collections worldwide. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Earthport