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i-Nexus global proposes to raise £1.325 million through convertible loan note
StockMarketWire.com
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i-Nexus global said it was proposing to raise £1.325 million through convertible redeemable loan notes.
The noteholders would have the right to convert the convertible loan notes into ordinary shares at a price of 10 pence a share at any time on or prior to 4 November 2023.
The conversion price represents a premium of approximately 98% to the closing middle market price of 5.05 pence a share on 16 October 2020.
The net proceeds would provide 'much needed additional working capital to facilitate the continued implementation of the company's growth plan and will be applied entirely towards meeting the company's ongoing working capital requirements,' the company said.
At 10:03am: (LON:INX) Inexus Global Plc Ord 10p share price was +0.95p at 6p
Story provided by StockMarketWire.com
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