F&C Global directors mull issue of up to £40 million convertible stock

By Jennifer Chiou

New York, April 30 - F&C Global Smaller Cos. plc's directors are considering the possibility of issuing up to £40 million of convertible unsecured loan stock, according to a filing with the London Stock Exchange.

If the company moves forward with the issue, it will seek shareholder approval.

The company stated in the filing that it is specifically seeking whether to replace "the structural gearing" its £10 million of debenture stock due December 2014 has offered.

The convertible stock is among the debt security options to replace the debenture stock.

The investment company is based in London.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.