News blog
Eco City Vehicles
- BY: Andrew Hore |
- POSTED: 26/02/2015 |
Shell company Eco City Vehicles will return from suspension on 3 March having effectively completed its company voluntary arrangement (CVA).
A 125 for one share consolidation will take effect prior to the resumption of trading. The suspension price was 0.33p so this will effectively become 41.25p. The opening price could be much lower than this.
The £250,000 of convertible loan notes have been converted into 25 million shares – a conversion price of 1p a share. Nigel Wray will end up with a 19.8% stake. Begbies were paid £143,000 of the proceeds from the loan notes.
Eco City will seek acquisitions in the telecoms, media and technology sectors.
AIM Journal February 2015 available.
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