Issue of Equity

RNS Number : 6651Y

Canisp PLC

08 September 2009

 



8 September 2009

Canisp Plc

(Canisp or 'the Company')

Issue of Equity

Canisp (AIM:CN.), today announces that it has received notification to convert a further £85,000 of the £1.6 million convertible debt announced on 21 April 2008 into 85,000,000 Ordinary Shares of 0.1p each, representing 29.66 per cent of the enlarged issued share capital of the Company.  These shares have been placed with Arrow Management Limited ('Arrow').  Arrow did not hold any shares in the Company prior to this issue and accordingly Arrow's disclosable interest in the shares of the Company following this issue amounts to 85,000,000 shares representing 29.66 per cent of the enlarged issued share capital of the Company.  After this conversion, the remaining balance of convertible debt stands at approximately £0.95 million.

In accordance with the terms of the convertible loan, these shares have been allotted and issued at par. Application for these shares to be admitted to trading on AIM has been made and is expected to occur at 8.00 am on 14 September 2009. Following this issue there will be 286,547,275 Ordinary Shares of 0.1 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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