IDE Group Holdings PLC Conversion of Loan Notes and Issue of Equity (2572Y)
11 Mayo 2021 - 7:00AM
UK Regulatory
TIDMIDE
RNS Number : 2572Y
IDE Group Holdings PLC
11 May 2021
11 May 2021
IDE Group Holdings Plc
("IDE" or the "Company")
Conversion of Loan Notes and Issue of Equity
IDE Group Holdings plc, the mid-market network, cloud and IT
managed services provider, announces that it has received
conversion notices relating to a portion of the GBP2,550,000 of IDE
Unsecured Convertible Loan Notes 2023 issued in August 2018
("CLNs") with a conversion price of GBP0.025 (the "Conversion
Price"). GBP152,481 of the CLNs remain in place.
The conversion notices have been submitted by Kestrel
Opportunities and Kestrel Partners LLP for conversion into
78,638,640 and 17,262,120 new ordinary shares of 2.5p each in the
Company ("Ordinary Shares") respectively with a conversion date of
7 June 2021.
Application has been made for the admission of a total of
95,900,760 Ordinary Shares to trading on AIM ("Admission") and it
is expected that this will occur on or around 7 June 2021. These
shares will rank pari passu in all respects with the Company's
existing issued Ordinary Shares.
Subsequent to the issue of Ordinary Shares, the Company will
have 496,702,792 Ordinary Shares in issue. IDE has no shares in
Treasury, therefore this figure may be used by shareholders, from
Admission, as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the Company
under the FCA's Disclosure and Transparency Rules.
IDE Group Holdings Plc Tel: +44 (0)344
Andy Parker, Non-Executive Chairman 874 1000
finnCap Limited Tel: +44 (0)20 7220
Nominated Adviser and Broker 0500
Corporate finance: Jonny Franklin-Adams/
Charlie Beeson
ECM: Tim Redfern/ Richard Chambers
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END
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May 11, 2021 08:00 ET (12:00 GMT)
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