Rivington Street Corporate Finance is agent for 0% loan notes offering
By Devika Patel
Knoxville, Tenn., June 6 - Leed Petroleum plc said Rivington Street Corporate Finance Ltd. assisted in selling £2.14 million of the company's zero-coupon convertible loan notes in a private placement.
The notes are convertible at the option of the company into ordinary shares. Conversion will take place immediately following the notes' issue.
The company will be required to undertake a reorganization of its share capital as a condition for the placement. The reorganization will include the creation of new deferred shares and the consolidation of existing ordinary shares.
Based in London, Leed is an oil and gas development and production company.
| Issuer: | Leed Petroleum plc
|
| Issue: | Convertible loan notes
|
| Amount: | £2,135,000
|
| Coupon: | 0%
|
| Warrants: | No
|
| Broker: | Rivington Street Corporate Finance Ltd.
|
| Announcement date: | June 6
|
| Stock symbol: | London: LDP
|
| Stock price: | 1.13p at close June 6
|
| Market capitalization: | £8.18 million
|
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