ALL STAR MINERALS PLC
("All Star" or "the Company")
Update on Convertible Loan Note and Issue of Equity
The Company announces that it has
agreed to extend the Convertible Loan Note, which was issued to
Valiant Investments Plc (“Valiant”), as announced on 19 February
2014. The terms of the Convertible Loan Note have been amended
whereby the maturity date has been extended to May 2018 with fixed interest of 20% per annum at
a conversion price of 0.10p paid on an annual basis.
Issue of
Equity
Additionally, the Company has issued
2,857,142 new shares in lieu of outstanding liabilities arising due
to the coupon on the Convertible Loan Note. The new shares issued
have been admitted to trading on NEX Exchange.
Following the issue the Company now
has ordinary shares in issue of 1,090,474,743.
The Directors of All Star are
responsible for the contents of this announcement.
ENQUIRIES:
All Star Minerals Plc
Tomas Nugent, Chairman
07963-455663
NEX Exchange Corporate Adviser
Cairn Financial Advisers LLP
Liam Murray
0207 213-0880