Information  X 
Enter a valid email address

V2 Ventures Plc (HYE)

  Print   

Monday 30 January, 2012

V2 Ventures Plc

Issue of Convertible Loan Notes


                                V2 VENTURES PLC                                
                       ("V2 Ventures" or the "Company")                        

                        Issue of Convertible Loan Notes                        

The Company announces that it has issued £575,000 nil coupon, convertible loan
notes 2013 ("Loan Notes") to Wong Bi Fah and Tan Kor Seng. The Loan Notes are
convertible at 2.2053 pence a share and upon full conversion, would equate to
26,073,550 ordinary shares of 1p in V2 Ventures. In the event of any conversion
of these Loan Notes, and consequentially, Wong Bi Fah and Tan Kor Seng
increasing their shareholding above 29.9%, further conversion of shares will be
subject to Takeover Panel approval. Under Rule 9 of the Takeover Code, Wong Bi
Fah and Tan Kor Seng will have to make a mandatory offer for the remaining
shares in the Company, apply for a dispensation from the Takeover Panel or not
exercise its right to further shares in the Company unless their shareholding
remains under 29.9%.

The Directors of the issuer accept responsibility for this announcement.

                                  ---ENDS---                                   

Enquiries:

V2 VENTURES PLC
Peter Holmes
+44 203 384 3640

RIVINGTON STREET CORPORATE FINANCE
Eran Zucker
+44 20 7562 3373
[email protected]

a d v e r t i s e m e n t