Exercise of Option-Convertibl

RNS Number : 2059D

Kleenair Systems International PLC

27 November 2009

 



KleenAir Systems International Plc ("the Company")

Exercise of Option in relation to Convertible Loan Note

27 November 2009

The Company announces that under the secured loan note agreement dated 29 July 2009 ("the Agreement") pursuant to a loan note instrument dated 29 July 2009 ("the Loan Note Instrument"), Global Investment Strategy (UK) Ltd ("GIS") has exercised its option to subscribe for a further 32,248 £1 convertible loan notes of the Company.

These notes are to be issued on the same terms and conditions as set out in the Loan Note Instrument.

The subscription for the further convertible loan notes will yield £29,317 (after expenses) for the Company and the number of loan notes over which GIS holds an option to subscribe at £1 will reduce to 190,683 which includes a commission of 10% payable to GIS in the form of loan notes.

Enquiries: 

KleenAir Systems International Plc

Wayne Reid, Executive Chairman                        [phone]

W.H. Ireland                                                       [phone]

Tim Cofman-Nicoresti

 

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