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Global Brands

  • BY: Andrew Hore |
  • POSTED: 06/02/2014 |

Trading in the shares of Global Brands SA has been suspended ahead of talks about a potential oil and gas acquisition from shareholder Gerwyn Williams.

UK Onshore Gas Ltd owns companies that hold a 50% stake in 17 petroleum exploration and development licences (PEDLs) in the UK.

Williams has provided a £300,000 convertible loan facility. The drawn down loan has an annual interest charge of 6%. The conversion price is 0.3p a share. If the acquisition is not completed by the end of October 2014, then the loan will be repaid or converted at the lower of 0.3p a share or at a 10% discount to the market price.

Williams currently owns 29.5% of Global Brands.

House broker Alexander David Securities is exercising 4.58m warrants, which will raise £9,169 for Global Brands, which used to run the Domino‘s Pizza franchise in Switzerland.

At the suspension price of 0.29p a share, Global Brands is valued at £1.02m.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFJanuary2014_52.pdf

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