LONDON (Thomson Financial) - Tadpole Technology PLC said it has issued
230,000 stg nominal value convertible loan notes to provide additional
short-term working capital for the company while it finalises the larger
fundraising.
The software product developer said that if the loan notes are converted in
full, it will result in the issue of 23 mln new shares, equivalent to 5.4 pct of
its issued share capital.
The company also said that its trading is "largely" in line with
expectations, with its Software as a Service activities in Europe developing
"strongly".
On Feb 14, Tadpole said it was considering alternative options to its
fundraising plans as it had not received commitments from potential places of
funding due to unfavourable market conditions.
TFN.newsdesk@thomson.com
kal/jfr
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