WideCells Group PLC Conversion of Securities (3942C)
June 17 2019 - 2:24AM
UK Regulatory
TIDMWDC
RNS Number : 3942C
WideCells Group PLC
17 June 2019
17 June 2019
WideCells Group PLC ("WideCells" or the "Company")
Conversion Notice
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 GBP0.0025
each in the Company ("Ordinary Shares") to the Investor, the
Company has 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 aggregate principal amount of
GBP400,000, resulting in the issue to the Investor of 100,000,000
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 23 May 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 1,090,552,698
Ordinary Shares with voting rights. The Company does not hold any
shares in treasury. The figure of 1,090,552,698 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
https://www.iconiclabs.co.uk/ or contact:
Shard Capital Partners Broker - Damon Heath & Erik Tel: +44 (0) 20 7186
LLP Woolgar 9950
St Brides Partners PR - Melissa Hancock & Isabel Tel: +44 (0) 20 7236
Limited de Salis 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 rns@lseg.com or visit www.rns.com.
END
CONSFWESMFUSESM
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June 17, 2019 02:24 ET (06:24 GMT)
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