By Devika Patel
Knoxville, Tenn., July 1 - Access Intelligence plc announced it has completed a £1.75 million private placement of 6% convertible loan notes.
The £1.00 notes mature on June 30, 2014. They are convertible at 4p per share and may be redeemed after 18 months at a 10% premium.
Elderstreet VCT plc and Unicorn VCT plc have respectively bought 500,000 and 750,000 loan notes.
Proceeds will partially fund the company's planned acquisition of Ether-Ray Ltd.
Access Intelligence is a York, England, software and computer services company.
| Issuer: | Access Intelligence plc
|
| Issue: | Convertible loan notes
|
| Amount: | £1.75 million
|
| Maturity: | June 30, 2014
|
| Coupon: | 6%
|
| Price: | Par of £1.00
|
| Yield: | 6%
|
| Conversion price: | 4p
|
| Warrants: | No
|
| Investors: | Elderstreet VCT plc (for £500,000) and Unicorn VCT plc (for £750,000)
|
| Settlement date: | July 1
|
| Stock symbol: | London: ACC
|
| Stock price: | 4.16p at close July 1
|
| Market capitalization: | £6.98 million
|
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