Refinance of Convertible Loan Note

RNS Number : 1109F

EPE Special Opportunities PLC

10 November 2015

 



EPE Special Opportunities plc

Refinance of part of Convertible Loan Notes in issue

10 November 2015

EPE Special Opportunities plc ("ESO plc" or the "Company") announces that on 9 November 2015 it completed the refinance of a total of £1,431,002 in principal amount of the existing Convertible Loan Notes ("CLNs") by the issue of new Loan Notes in the principal amount of £1,431,002, the first issue of which was completed on 23 July 2015 and announced on 24 July 2015. 

Following the transaction, the total number of CLNs admitted to trading remains 10,000,000, with CLNs in the principal amount of £2,216,984 held by third parties and CLNs in the principal amount of £7,783,016 held by the Company.

In addition to the new Loan Notes, CLN holders participating in the refinancing have received warrants over ordinary shares of 5 pence each ("Ordinary Shares") on a 1 for 5 basis, so that such CLN holders have received 286,200 warrants entitling them to subscribe for 286,200 Ordinary Shares (in the aggregate) upon the payment in cash of 170 pence per Ordinary Share. The warrants are exercisable at any time after 31 July 2018, but they will lapse if they are not exercised prior to 31 January 2022.

The refinancing of the CLNs by the issue of new Loan Notes takes the total amount of the Loan Notes issued since July 2015 to £8.0 million.

Enquiries:

EPIC Private Equity LLP	Alex Leslie [phone]
FIM Capital Limited (formerly IOMA Fund and Investment Management Limited)	Philip Scales [phone]
Cardew Group	Richard Spiegelberg [phone]
Numis Securities Ltd	[phone]
Nominated Advisor:	Stuart Skinner / Hugh Jonathan
Corporate Broker:	Charles Farquhar

 

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