Red Rock Resources plc raised £500,000 from issuing convertible loan notes, each at a price of £10,000. As of 19 October, £210,000 had been raised before expenses by subscription to 21 notes, closing the first tranche of the notes issue. The company will use net proceeds for its gold project in Kenya, lithium assets in […]
Tag: convertible loan notes (CLN)
Prospex issues 2.5m shares to clear CLNs
Prospex Energy plc received notices to convert a total £109,043.57 in the final two of a group of convertible loan notes into 2,565,732 new ordinary shares each of 0.1p in the company. The CLNs, issued in July 2022, are convertible at 4.25p per share. On admission, the company will have 329,272,881 ordinary shares in issue. “These […]
Prospex issues 14m shares to settle £642,000 CLNs
Prospex Energy plc has issued just over 14 million new ordinary shares to settle £642,000 in convertible loan notes (CLNs) from last year. The company yesterday received notices to convert £453,562.27 in four CLNs in exchange for 10,672,055 new ordinary shares of 0.1p each in the company. The CLNs, issued in July 2022, are convertible […]
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 […]
Corcel agrees up to potential £10m unsecured CLNs
Corcel plc has agreed an unsecured convertible loan notes for up to a potential £10 million over three years for its oil and gas interests in Angola and Brazil and “operations elsewhere”. ACCELERATE Investment company Extraction Srl, whose chairman is a major shareholder in Corcel, will lend £1m this month, £1m in January 2024 with a […]
Prospex converts £225,377 CLNs to 5.3m shares
Prospex Energy plc received notices to convert a total £225,377.72 in two convertible loan notes (CLNs) in exchange for 5,303,006 new ordinary shares of 0.1p each in the company. The CLNs, issued in July 2022, are convertible at 4.25p per share. On admission, Prospex will have a total of 312,603,360 ordinary shares in issue. Chief executive […]