Lombard Capital PLC - Issue of Equity
PR Newswire
London, March 2
2 March 2020
LOMBARD CAPITAL PLC
Issue of equity
The directors of Lombard Capital Plc ("Lombard" or "the Company") announce that they have received notice to convert £440,000 of the 7.5 per cent Convertible Unsecured Loan Notes 2020 (the "Loan Notes") into shares.
The Convertible Notes carry the right of conversion into Ordinary Shares at the rate of 10p per share as a result the board have resolved to issue 4,400,000 Ordinary Shares of £0.001 each.
Furthermore, the holder of the Loan Notes subject to the conversion have requested that the interest due to September 2019 and March 2020, net of withholding tax, be paid in shares at the current mid-market price of 2.75p per share. As a result, the board have resolved to issue a further 962,627 Ordinary Shares of £0.001 each.
As a result, a total of 5,362,627 ordinary shares of £0.001 each are being issued.
As a result of these allotments the Company now has 9,581,784 Ordinary Shares in issue.
The above figure of 9,581,784 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
There are no further outstanding convertible loan notes.
As a result of these issues the following shareholdings exist: -
| Shareholder | Shareholding (number) | Shareholding (percentage) |
| Richard Murray | 2,437,558 | 25.4% |
| Barry Fromson | 1,727,727 | 17.8% |
| John Reilly | 1,218,779 | 12.7% |
| Seventy Seven Properties Limited | 548,450 | 5.7% |
| Peter Harding | 243,756 | 2.5% |
The directors of Lombard Capital Plc accept responsibility for this announcement.
For further information please contact:
Brent Fitzpatrick
Tel: 07718 883813
NEX Exchange Corporate Adviser
Alfred Henry Corporate Finance Limited
Nick Michaels: 0203 772 0021
