By Devika Patel
Knoxville, Tenn., Oct. 9 - Wren Homes Group plc said it will take in £1 million in a private placement of ordinary shares and £3 million through a five-year unsecured convertible loan. The investor is Wainford Holdings Ltd.
The company will sell 10 million ordinary shares at 10p per share.
The loan will bear interest at 5% and is convertible into ordinary shares at 5p per share.
Proceeds will be used to fund development of the company's Extra Care accommodation schemes and for general working capital purposes.
Wren Homes is a Surrey, England-based housing developer.
| Issuer: | Wren Homes Group plc
|
| Issue: | Ordinary shares, loan
|
| Amount: | £4 million
|
| Warrants: | No
|
| Investor: | Wainford Holdings Ltd.
|
| Pricing date: | Oct. 9
|
| Stock symbol: | London: WHG
|
| Stock price: | 12p at close Oct. 9
|
|
|
| Ordinary shares
|
| Amount: | £1 million
|
| Shares: | 10 million
|
| Price: | 10p
|
|
|
| Loan
|
| Amount: | £3 million
|
| Maturity: | Five years
|
| Coupon: | 5%
|
| Conversion price: | 10p
|
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