10 January 2012
Gasol plc("Gasol? or the "Company?)
Gasol enters into new funding facility
Gasol (AIM: GAS) is pleased to announce that it has entered
into a convertible loan facility
(the "Facility") on 9 January 2012 for approximately £661,000
to roll over a maturing loan
facility.
The Facility has been entered into with Banque Benedict
Hentsch & Cie SA ("BBH"), which is also the lender of the
maturing facility taken out on 30 December 2010. The Facility
has an interest rate of 5% payable at maturity or conversion,
and carries a conversion option whereby the lender has the
right to call for the conversion of the loan into ordinary
shares of Gasol at a price of 0.6 pence per share. Conversion
may take place up to 30 December
2012. The Facility is repayable (to the extent not previously
converted) on 30 December
2012. Repayment may be made, at the Company?s choice, either
in cash or in Gasol?s
shares (priced at a 10% discount to the mid-market closing
price on the day before repayment).
In consideration for BBH entering into the Facility, the
Company is extending the exercise date of the 12 million
Warrants, issued to BBH on 7 January 2010, by a year to
30
December 2012
Gasol plc Ewen Wigley, Chief Operating Officer | +44 (0) 20 7290 3300 |
Panmure Gordon (UK) Limited Dominic Morley (Corporate Finance) Callum Stewart (Corporate Finance) Adam Pollock (Corporate Broking) | +44 (0) 20 7459 3600 |
Pelham Bell Pottinger Olly Scott | +44 (0) 20 7861 3891 |
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Documents associés | |
Funding Announcement January 2012 |