News blog
WFCA
- BY: Andrew Hore |
- POSTED: 02/04/2009 |
Advertising and marketing company WFCA is receiving loans totalling £500,000 from its directors.
The unsecured loans are convertible into shares at 2p each just like the £1m of convertible loan notes issued when WFCA Integrated in Marcy 2008.
Southwind, a fund related to WFCA chairman Bob Morton, is lending £300,000. Chief executive Michael Richards is lending £100,000, Roger Braidwood £53,000 and John Foley £47,000. The loan notes are repayable on 31 March 2010.
Deferred acquisition consideration of up to £261,000 will be issued in the form of shares at 2p each.
Net debt was £713,000 at the end of December 2008.
At 5.5p a share, WFCA is valued at £8.65m.
© 2025 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|