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  • BY: Andrew Hore |
  • POSTED: 12/02/2009 |

Bglobal has raised £1m from a convertible loan note issue.

The smart meters supplier believes that this will provide working capital to finance the growth of installations.

The annual interest rate is 8%.

The conversion price is the lower of 17p a share or 5% above the average mid market price per share at which shares are first issued after the loan note subscription. The shares are trading at 14.75p a share, valuing Bglobal at £10.9m. 

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