18th Nov 2015 11:54
18 November 2015
Arria NLG plc
("Arria" or the "Company")
Update on issue of convertible loan notes and warrants
The Board of Arria (AIM: NLG), a leader in the development and deployment of Natural Language Generation technologies, announces that following the announcement on 6 November 2015, Arria has completed the issue of £3.33 million of the £3.75 million in convertible loan notes and associated warrants announced on 30 June 2015 (the "June Fundraise"). The balance of £0.42 million was underwritten by MSL Capital Markets Limited ("MSL"), the lead manager on the fundraising, and Arria is discussing with MSL how they will complete their underwriting obligation. Further updates will be announced in due course.
The number of warrants to be issued as part of the June Fundraise is calculated on the basis of two warrants to every US dollar subscribed in loan notes and is therefore dependent on the US dollar exchange rate against sterling. The Company confirms that the £3.33 million in proceeds received to date from the June Fundraise has resulted in the issue of 11,585,476 B warrants, the terms of which are set out in the Company's announcement on 30 June 2015. This includes 1,000,000 B warrants that have been issued to MSL pursuant to the June Fundraise and as announced on 6 November 2015. The B warrants are not admitted to trading on any stock exchange and are in addition to the 10,085,533 warrants already in issue and traded on AIM.
As a result of the above issue of £3.33 million of loan notes in the June Fundraise, the Company now has a total of £4.562 million of convertible loan notes outstanding, which are convertible into 11,405,000 new ordinary shares in the Company.
For further information, please visit www.arria.com or contact:
Arria NLG plc Stuart Rogers - Chairman & Chief Executive
| Tel: +44-20-7100-4540 ext 1040 |
Allenby Capital - Nominated Adviser & Joint Broker Nick Naylor / Jeremy Porter / James Reeve
| Tel: +44 (0) 20 3328 5656 |
MSL Capital Markets - Lead Manager Andrew McDouall / Justine Dunnett / Peter Lynds
| Tel: +64 (0) 4 472 2716 |
Westhouse Securities - Joint Broker Antonio Bossi / Robert Finlay
| Tel: +44 (0) 20 7601 6100 |
IFC Advisory - Financial PR and IR Tim Metcalfe / Graham Herring
| Tel: +44 (0) 20 3053 8671 |
Related Shares:
NLG.L