Corcel converts £100,000 loan notes into 25m shares

Corcel plc has received notice to convert £100,000 of outstanding loan notes into 25,000,000 new ordinary shares each at a price of £0.004.   

The loan notes are from the company’s lenders YA II PN Ltd and Riverfort Global Opportunities PCC Ltd.

Following the issue of the shares Corcel’s issued ordinary share capital will comprise 1,499,528,988 ordinary shares, each with voting rights.