Napster Group PLC Conversion of Loan Notes and Issue of Equity (5003U)
03 Décembre 2021 - 8:00AM
UK Regulatory
TIDMNAPS
RNS Number : 5003U
Napster Group PLC
03 December 2021
Napster Group PLC
("NAPS" or the "Group")
Conversion of Loan Notes and Director/PDMR disclosure
Napster Group PLC (AIM:NAPS), a leading music company and
operator of the MelodyVR and Napster platforms, announces that it
has received a notice of exercise from Nice & Green S.A (the
"Investor") in respect of the Convertible Loan Notes ("Loan Notes")
previously issued to the Investor.
As a result of this conversion notice, GBP2,000,000 Loan Notes
have been converted in to 200,000,000 new ordinary shares of 1
pence each in the capital of the Company ("Ordinary Shares") at a
conversion price of 1.00p in accordance with the terms of the Loan
Notes. Following this notice, there are no outstanding Loan Notes
held by the Investor.
In addition, in accordance with the loan facility agreement
entered into with the Davis Partnership, LP (the "Lender") on 1
April 2021, the Company is issuing 8,292,120 new Ordinary Shares to
the Lender in satisfaction of accrued interest of US$419,166.67.
The prescribed price of an Ordinary Share as set out in the loan
facility agreement is 3.75p per Ordinary Share.
Application has been made to the London Stock Exchange for the
208,292,120 new Ordinary Shares to be admitted to trading on AIM
("Admission") and it is expected that Admission will become
effective and trading will commence at 8.00 a.m. on 9 December
2021. The new Ordinary Shares will rank pari passu in all respects
with all existing Ordinary Shares in the Company.
Following Admission and including the Ordinary Shares subscribed
for by the Group's Employee Benefit Trust, the total number of
Ordinary Shares in issue will be 3,419,237,667. This figure may be
used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
For further information please contact:
Napster Group PLC email@napster.group
Anthony Matchett, Group CEO
finnCap Ltd ( Nominated Advisor and Broker) Tel: +44 (0) 20 7220
Corporate Finance: Marc Milmo, James Thompson, 0500
Milesh Hindocha
ECM: Tim Redfern, Sunila de Silva
Equitory (Investor Relations) napster@equitory.com
Clara Melia/Geoff Callow
PDMR Disclosure
The below notification is made in accordance with the
requirements of the EU Market Abuse Regulation.
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Davis Capital Partners
--------------------------------------- ------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Lansing Davis (as
a non-executive Director
of the Company and
his interest in Davis
Partnership)
--------------------------------------- ------------------------------
b) Initial notification/Amendment: Initial Notification
--------------------------------------- ------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: Napster Group plc
--------------------------------------- ------------------------------
b) LEI: 213800B2AKGQC3D2R751
--------------------------------------- ------------------------------
4. Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------
a) Description of the financial Ordinary shares of
instrument, type of instrument: 1 pence per share
Identification code: GB00BD2YHN21
--------------------------------------- ------------------------------
b) Nature of the transaction: Issue of shares in
satisfaction of accrued
interest
--------------------------------------- ------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
3.75p 8,292,120
----------
--------------------------------------- ------------------------------
d) Aggregated information: 8,292,120 Ordinary
--Aggregated volume: Shares issued at
--Price: a price of 3.75 pence
per ordinary share
--------------------------------------- ------------------------------
e) Date of the transaction: 2 December 2021
--------------------------------------- ------------------------------
f) Place of the transaction: Off market transaction
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END
IOEUOVNRAVUURRA
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