viewDefenx PLC

Conversion Notice Received

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RNS Number : 4441E
Defenx plc
18 October 2018

18 October 2018


Defenx PLC

("Defenx", the "Company" or the "Group")


Conversion Notice received in respect of first draw down under the Convertible Loan


Defenx Plc (AIM: DFX), the cyber-security software group, announces that, following receipt of €150,000 pursuant to the first draw announced on 16 October 2018 (the "First Draw Down") under the Convertible Loan with BV Tech, as announced on 2 October 2018 (the "Announcement"), the Company has received a conversion notice from BV Tech in respect of the First Draw Down (the "First Conversion").


As detailed in the Announcement, the Convertible Loan is convertible, at the sole discretion of BV Tech, into new Ordinary Shares at a price of 8.0 pence per share, subject to the relevant resolutions being approved at the Company's upcoming AGM.  Accordingly, subject to the approval of the relevant resolutions at the AGM, due to be held on 31 October 2018, 1,652,232 new Ordinary Shares will be issued to BV Tech pursuant to the First Conversion plus associated accrued interest.


On admission of the new Ordinary Shares, BV Tech will be interested in 17,065,758 Ordinary Shares, representing approximately 57.2 per cent. of the Company's then enlarged share capital.




Application will be made to the London Stock Exchange for 1,652,232 new Ordinary Shares to be admitted to trading on AIM pursuant to the First Conversion.  It is expected that, subject to approval of the relevant resolutions at the AGM, admission will occur at 8.00 a.m. on 1 November 2018.


Following Admission, the Company's total issued share capital will comprise 29,809,802 Ordinary Shares with voting rights.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company under the FCA's Disclosure Guidance and Transparency Rules.  The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares in issue, including the right to receive all dividends and other distributions declared.


Capitalised terms in this announcement, unless otherwise defined, have the same meaning as set out in the Announcement.




Defenx PLC

Anthony Reeves - Executive Chairman


020 3198 9414

IFC Advisory (Financial PR and IR)

Tim Metcalfe / Graham Herring / Heather Armstrong


020 3934 6630

Strand Hanson Limited (Nominated and Financial Adviser)

Richard Tulloch / Stuart Faulkner / James Bellman


020 7409 3494

WH Ireland (Broker)

Adrian Hadden

020 7220 1666


The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

Quick facts: Defenx PLC

Price: 3.3

Market: AIM
Market Cap: £929.21 k

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