Sopheon plc
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Publicatie datum
02 okt 2009 - 16:52
Statutaire naam
Sopheon plc
Titel
ISSUE OF CONVERTIBLE LOAN STOCK
Bericht
SOPHEON PLC
(“Sopheon” or “the Company”)
ISSUE OF CONVERTIBLE LOAN STOCK
Sopheon plc announces that it has issued £850,000 of convertible unsecured loan stock (“the Loan Stock”) to a group of investors including key members of the Board and the senior management team. The Loan Stock is convertible into ordinary shares in the share capital of the Company on terms set out below.
Chairman Barry Mence said:
“In our interim and AGM announcements, we noted that we were looking at our cash facilities following a tough first half of the year. I am delighted that the board and management team, together with external investors, have demonstrated their confidence in the future of Sopheon by investing in this instrument.”
As set out below, of the total investment of £850,000, members of the Board and senior management or their families have subscribed for £415,000. Of the £435,000 invested by external investors, £200,000 has been invested by Norman Nominees Limited, an existing Significant Shareholder.
Name Value subscribed
£’000
Barry Mence, Chairman 200
Stuart Silcock, Non-Executive Director 100
Bernard Al, Non-Executive Director 40
Andrew Michuda, Chief Executive Officer 20
Arif Karimjee, Chief Financial Officer 12
Other members of Senior Management 43
External Investors 435
Total 850
In accordance with the AIM Rules for Companies, Daniel Metzger, having consulted with the Company’s Nominated Adviser, Seymour Pierce Limited, has acted as independent director with respect to this transaction and considers that the terms of the convertible loan stock are fair and reasonable insofar as the Company’s shareholders are concerned.
Sopheon will update shareholders on trading in its Interim Management Statement, scheduled for 3 November 2009.
The Loan Stock has the following principal terms:
• The conversion price for the Loan Stock (“the Conversion Price”) is £0.10 being the average mid-market close price on the Alternative Investment Market of
Datum laatste update: 12 februari 2025