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 […]
Tag: convertible loan notes (CLN)
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 […]
Prospex converts £105,000 CLN for 2.5m shares
Prospex Energy plc has received notice to convert a total £104,745.81 in a convertible loan note in exchange for 2,464,608 new ordinary shares of 0.1p each in the company. The convertible loan note, issued in July 2022, is convertible at 4.25p per share. Following admission, the company will have 307,300,354 ordinary shares in issue.
Prospex converts £471,000 CLNs for 11m shares
Prospex Energy plc has received notices to convert £470,840.17 in four convertible loan notes (CLNs) for 11,078,594 new ordinary shares of 0.1p each in the company. The CLNs, issued in July 2022, are convertible at 4.25p per share. Following admission, the company will have 304,835,746 ordinary shares in issue. Prospex holds gas interests in Selva (37%) […]
Red Rock issues 26m shares for £52,500 CLNs
Red Rock Resources plc issued 26,000,000 ordinary shares each at a price of £0.0020196 after receiving notice to convert £52,509.60 of convertible loan notes, including interest. The company has also issued 50 million warrants exercisable into new ordinary shares for two years at 0.2p to an unsecured lender, subject to approval at the next general […]