News blog

Alexander David Securities

  • BY: Andrew Hore |
  • POSTED: 20/12/2013 |

Shell Alexander David Securities has raised 400,000 to help finance the costs of a possible reverse takeover. 

Planwise Group, which owns 25.9% of the company, has subscribed for 400,000of convertible loan notes. The annual interest rate is 13%. The funds can only be used for the costs of the proposed deal and if it goes ahead the loan is convertible at 0.04p a share. If the loan is not converted it will be repaid by the end of June 2014 at the latest.

Planwise had been in talks with the company about a reverse taleover but they ended at the end of August.

Trading in the shares was suspended on19 December at 0.09p a share.

© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds