Remote Monitored Systems PLC Exercise of warrants and conversion of CLN (3433D)
27 Octubre 2020 - 4:15AM
UK Regulatory
TIDMRMS
RNS Number : 3433D
Remote Monitored Systems PLC
27 October 2020
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
27 October 2020
Remote Monitored Systems plc ("RMS" or the "Company")
Exercise of warrants and conversion of CLN
The Company has received notification to exercise warrants
representing 37,018,928 ordinary shares in the Company ("Warrant
Shares") for a total consideration of GBP157,333. 12,618,928
warrants were exercised by Nigel Burton, previous Non-Executive
Chairman of RMS, at 0.28 pence per warrant. 24,400,000 warrants
were exercised at 0.5 pence per warrant.
At the same time, Nigel Burton has elected to convert the entire
amount of his Convertible Loan Note ("CLN") which was issued on 24
July 2020. The CLN was for GBP35,333, has a conversion price of
0.28 pence and a 6% payment in kind coupon. Accordingly, Nigel
Burton will be issued with 12,801,543 ordinary shares in the
Company ("CLN Shares").
Application has been made for the Warrant Shares and CLN Shares
to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings will commence at
8:00a.m. on or around 2 November 2020.
Following Admission, the Company will have 874,627,261 ordinary
shares of 0.01p each in issue, none of which are held in treasury.
Therefore, the total number of voting rights in the Company is
874,627,261.
The above figure of 874,627,261 may be used by shareholders in
the Company 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.
ENQUIRIES:
Remote Monitored Systems plc
Trevor Brown (Executive Director) +41 7941 55384
Paul Ryan (Non-Executive Chairman) +32 475 754 148
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and joint broker
Stuart Gledhill
Caroline Rowe
Peterhouse Capital Limited +44 20 7469 0930
Joint broker
Lucy Williams
Duncan Vasey
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END
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