News blog
Aquabella Group
- BY: Andrew Hore |
- POSTED: 14/03/2008 |
- COMMENTS: Add yours
Fish farmer Aquabella has raised £225,000 through a convertible loan note but the shares remain suspended.
The shares were suspended on 19 February at 12p. The company was running short of money.
Existing investors are putting up the new money and the will receive interest of 8% per annum. The conversion price is the lower of 12p a share or the lowest price at which shares have been issued during the term of the convertible.
This cash is only a stop gap financing. More cash will be needed.
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