Napster Group PLC Conversion of Loan Notes and Issue of Equity (8867U)
April 08 2021 - 10:25AM
UK Regulatory
TIDMNAPS
RNS Number : 8867U
Napster Group PLC
08 April 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014, as it
forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 .
Napster Group PLC
("NAPS" or the "Company")
Conversion of Loan Notes and Issue of Equity
Napster Group PLC (AIM:MVR), a leading music company and
operator of the MelodyVR and Napster platforms, announces that it
has received a notice of exercise from Nice & Green S.A (the
"Investor") in respect of the issue of Convertible Loan Notes
("Loan Notes") (as announced on 8 February 2021). This conversion
notice follows from the Company issuing a total of GBP1,540,000
Loan Notes to date under the previously announced investment
agreement with the Investor under which Loan Notes with an
aggregate value of GBP6.48 million will be issued.
As a result of this conversion notice GBP1,270,000 Loan Notes
have been converted in to 63,310,069 ordinary shares (the
"Conversion Shares") at a conversion price of 2.006p in accordance
with the terms of the Loan Notes.
Application will be made for the Conversion Shares to be
admitted to trading on AIM with admission expected to take place on
or around 15 April 2021. The Conversion Shares will rank pari passu
in all respects with all existing ordinary shares in the Company
.
Following admission of the Conversion Shares, the Company's
enlarged issued share capital will comprise 2,630,781,428 ordinary
shares with voting rights. This figure 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 to their interest in, the share capital of the
Company under the Financial Conduct Authority's Disclosure and
Transparency Rules.
For further information please contact;
Napster Group PLC email@napster.group
Anthony Matchett, Group CEO
Arden Partners plc: Tel: +44 (0) 20 7614
Nominated Advisor and Broker 5900
Corporate Finance: Ruari McGirr / Ben
Cryer
Corporate Broking: Simon Johnson
Equitory napster@equitory.com
Clara Melia/Geoff Callow
www.melodyvr.com
www.napster.com
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END
IOEUWUVRAOUSRAR
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