Issue of Equity

RNS Number : 6440N

Canisp PLC

20 February 2009

 

Canisp Plc

(Canisp or 'the Company')

Issue of Equity

Canisp (AIM:CN.), today announces that Corvus Capital Limited ('Corvus') has agreed to convert £161,500 of the outstanding £1.6 million convertible debt announced on 21 April 2008 into 16,150,000 Ordinary Shares of 1.0p each, representing 13.29 per cent of the enlarged issued share capital of the Company. These shares have been placed with unconnected third parties and there is no further disclosable interest required by those placees in relation to these shares. 

In accordance with the terms of the convertible loan, these shares have been allotted and issued at par as the current share price is below the par value. Application for these shares to be admitted to trading on AIM has been made and is expected to occur at 8.00 am on 26 February 2009. Following this issue there will be 121,547,275 Ordinary Shares of 1.0 pence each in issue.'

Enquiries:

Nominated advisor and broker:

Andrew Chubb, Canaccord Adams Limited tel:                        [phone]

 John Bick, Hansard Group tel:                                              [phone]

 

END

 

 

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