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DJ Lombard Capital PLC Issue of convertible loan notes and warrants

 
TIDMLCAP 
 
LOMBARD CAPITAL PLC 
 
                 Issue of convertible loan notes and warrants 
 
The directors of Lombard Capital Plc ("Lombard" or "the Company") announced, in 
the notice of general meeting sent to shareholders yesterday, that they have 
resolved to create up to GBP3,000,000 7.5 per cent Convertible Unsecured Loan 
Notes 2020 (the "Loan Notes"). 
 
The Convertible Notes carry the right of conversion into Ordinary Shares at the 
rate of 10p per share.  The Convertible Notes will be issued together with 
warrants that entitle the holder to subscribe for Ordinary Shares at 10p per 
share.  The warrants will be issued for a number of shares that corresponds to 
the number of shares to be issued on conversion of the Convertible Notes in 
relation to which the warrants are granted.   The funding to be raised by the 
issue of the Convertible Notes is to be used as working capital for the Company 
and for the strategic objectives that have been adopted by the Board of 
Directors of the Company. 
 
Up to today's date GBP150,000 of the Loan Notes have been subscribed for and 
fully paid. The Loan Notes are convertible at GBP0.10 per Ordinary Share of GBP 
0.001 each up to the final repayment date of 1st March 2020. Interest of 7.5% 
is payable bi-annually in respect of the Loan Notes. 
 
As a result of the subscription for GBP150,000 of Loan Notes, 1,500,000 warrants, 
exercisable up to 1st March at a price of GBP0.10 per Ordinary Share have also 
been created. 
 
The directors of Lombard Capital Plc accept responsibility for this 
announcement. 
 
For further information please contact: 
 
Brent Fitzpatrick 
 
Tel:  07718 883813 
 
NEX Exchange Corporate Adviser 
 
Alfred Henry Corporate Finance Limited 
 
Nick Michaels:  020 7251 3762 
 
 
 
END 
 

(END) Dow Jones Newswires

September 20, 2017 06:43 ET (10:43 GMT)