Issue of Equity

RNS Number : 3745S

Canisp PLC

18 May 2009

 



18 May 2009

Canisp Plc

(Canisp or 'the Company')

Issue of Equity

Canisp (AIM:CN.), today announces that Corvus Capital Limited ('Corvus') has agreed to convert a further £300,000 of the £1.6 million convertible debt announced on 21 April 2008 into 30,000,000 Ordinary Shares of 1.0p each, representing 19.8 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.  After this conversion, the remaining balance of convertible debt stands at approximately £1.14 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 21 May 2009. Following this issue there will be 151,547,275 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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