Trevor Brown, a director of Flying Brands Ltd (LON:FBDU), has elected to convert £56,000 of his convertible loan notes into 5.86mln Flying Brands shares.
The notes, which were issued in March 2015, were converted at 1.1p a share.
Following this conversion, Flying Brands has £213,800 of convertible loan notes outstanding from the March 2015, and £100,000 of convertible loan notes issued in November 2015 outstanding.
Conversion of the loan notes takes Brown’s stake in the holding company to just under 25%.