London, 19 July
2019
Grand Vision Media Holdings plc
( “GVMH” or the “Company”)
£670K Convertible Loan Notes
The directors of GVMH are delighted to announce that they have
secured funding by way of £670K of convertible loan notes.
The loan notes have been issued as zero coupon Convertible
Unsecured Loan Notes 2019 (the “Loan Notes”).
The Loan Notes are subject to no interest but are convertible at
a price of £0.15 per Ordinary Share and are redeemable, to the
extent they have not been converted into shares, on 1 July 2021.
For every four shares received by way of conversion of the Loan
Notes, the holders of the Loan Notes (the “Holders”) will be given
one warrant (the “Warrants”) to acquire one ordinary share of the
Company. The Warrants are exercisable up to 2 years after issue at
a price of £0.15 per Ordinary Share.
If the Loan Notes and Warrants are all converted into shares
this would result in the Holders acquiring 5,609,210 shares in
GVMH, representing approximately 5.5% of the newly enlarged shares
in the Company.
Commenting on the issue of the Loan Notes, Jonathan Lo, Chief Executive, said “this
investment provides the working capital to further develop our
business plan, consolidating our progress to date for further
growth in future.”
The Directors accept responsibility for this announcement.
For more information:
Grand Vision Media Holdings plc |
http://gvmh.co.uk/ |
Edward Kwan-Mang Ng, Director |
Tel: +44 (0) 20 7866 2145
or info@gvmh.co.uk |
Alfred Henry Corporate
Finance Ltd |
|
Nick Michaels / Jon Isaacs |
Tel: +44 (0) 20 3772 0021
or enquiries@alfredhenry.com |
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