WideCells Group (LON:WDC)

WideCells Group (LON:WDC)


Share Price
0.48 p
Change
-0.055 (-10.28 %)
Market Cap
£0.73 m
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WideCells Group RNS Release

Update


RNS Number : 8896S
WideCells Group PLC
14 March 2019
 

 

14 March 2019

 

 

WideCells Group PLC ("WideCells" or the "Company")

Update

WideCells Group PLC, announces that, following the issuance of the Prospectus on 22 February 2019, and pursuant to the financing agreement entered into by the Company and the European High Growth Opportunities Securitization Fund (the "Investor") (see RNS dated 6 November 2018), pursuant to which the Company issued bonds ("Convertible Bonds") convertible into ordinary shares of £0.0025 each in the Company ("Ordinary Shares") to the Investor, the Company has today received a further notice of exercise from the Investor  in respect of the exercise by the Investor of its conversion rights under the Convertible Bonds for the principal amount of £115,000, together with a penalty payment of £172,500, resulting in the issue to the Investor of 115,000,000 new Ordinary Shares ("Conversion Shares").

The Company has agreed, subject only to Admission (as defined below), to issue the Conversion Shares and accordingly application will be made for the Conversion Shares to be listed on the Standard segment of the Official List of the UK Listing Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc ("Admission").

Admission is expected to take place on 18 March 2019. The Conversion Shares will rank pari passu in all respects with all existing Ordinary Shares.

Following Admission of the Conversion Shares, the Company's enlarged issued share capital will compromise 406,352,698 Ordinary Shares with voting rights. The Company does not hold any shares in treasury. The figure of 406,352,698 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

Market Abuse Regulation (MAR) Disclosure - certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

ENDS

For further information, please visit the Company's website www.widecellsgroup.com or contact:

 

 

 

 

Shard Capital Partners LLP

Broker - Damon Heath & Erik Woolgar

Tel: +44 (0) 20 7186 9950

St Brides Partners Limited

PR - Melissa Hancock & Isabel de Salis

Tel: +44 (0) 20 7236 1177

 

 

 


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.
 
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