11th Jan 2007 17:24
Turbo Power Systems Inc11 January 2007 Turbo Power Systems Inc (the "Company") Redemption of Loan Notes Further to the announcement made on 28 December 2006, the Company is pleased toannounce the redemption of a further £4,500,000 loan notes, which completed on 6January 2007. Following this redemption a total of £9,360,000 loan notes(£5,000,000 Loan Notes 2003 and £4,360,000 Loan Notes 2005) have been redeemedin exchange for either common shares of no par value in the Company ("CommonShares") or A-Shares in Turbo Power Systems Ltd ("A-Shares"). The Company is pleased to announce that the fundraising transaction announced on20 October 2006, involving the Placing and Loan Note Redemption, is nowcomplete. Following this transaction the capital structure of the Company is as follows: Common Shares 273,944,592Loan Notes 2005 £1,789,000A-Shares 115,000,000Warrants over A-Shares 3,500,000 Details of these Common Shares, Loan Notes, A-Shares and warrants are set out inthe circular to shareholders that was posted to shareholders on 20 October 2006. For further information, please contact: Turbo Power Systems Inc Tel: +44 (0)20 8564 4460Michael Hunt, Chief ExecutiveStephen Sadler, Chief Financial Officer Gavin Anderson & Company (PR) Tel: +44 (0)20 7554 1400Ken CroninMichael Turner KBC Peel Hunt Tel: +44 (0)20 7418 8905Oliver ScottGordon Suggett Company Website: www.turbopowersystems.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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