Loan Note Conversion and Issue of Equity

RNS Number : 1554H

Malvern International PLC

02 August 2021

 

2 August 2021

MALVERN INTERNATIONAL PLC

("Malvern" or the "Company")

Loan Conversion

 and

Issue of Equity

Malvern International plc ("Malvern" or the "Company"), the global learning and skills development partner, announces that it has issued and allotted 21,551,724 new ordinary shares of 1p ("Ordinary Shares") each pursuant to the conversion of £50,000 of the loan notes at a conversion price of 0.232 pence per share (being the average price of the five business days prior to the conversion date) that were otherwise redeemable on 31 July (the "Loan Note Conversion").

Following the loan note conversion a further £272,817 Loan Notes remain outstanding of which a further £50,000 is redeemable or convertible on each of 31 January 2022 and 31 July 2022 with the final balance redeemable or convertible on 31 December 2022.

The 21,551,724 new Ordinary Shares will rank pari passu with the Company's existing ordinary share capital. Application has been made for the 21,551,724 new ordinary shares arising pursuant to the Loan Note Conversion to be admitted to trading on AIM ("Admission") which is expected to commence at 8.00 a.m. on or around 6 August 2021

Following Admission, the total number of Ordinary Shares in the Company in issue will be 2,109,018,964 and the total number of voting rights will be 2,109,018,964. This figure may be used by shareholders 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 Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

For further information please contact:
Malvern International Plc		www.malverninternational.com
Mark Elliott - Chairman		Via Communications Portfolio
Richard Mace - Chief Executive Officer
WH Ireland (NOMAD & Broker)		www.whirelandcb.com
Mike Coe		0207 220 1666
Media enquiries
Communications Portfolio	[e-mail]
Ariane Comstive	[phone]

Notes to Editors:

Malvern International is a learning and language skills development partner, offering international students essential academic and English language skills, cultural experiences and the support they need to thrive in their academic studies, daily life and career development.

University Pathways - on and off-campus university pathway programmes helping students progress to a range of universities, as well as in-sessional and pre-sessional courses.

Malvern House Schools - British Council accredited English Language Training at English UK registered schools in London, Brighton and Manchester.

Malvern Online Academy - British Council accredited online school, offering supported tuition to students from around the world in English language, higher education, and professional education.

Juniors and summer camps - fully-immersive summer residential English language camps and bespoke group programmes for 13 to 18 year olds.

For further investor information go to www.malverninternational.com .

 

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