logo-loader
EnergyOil & Gas
viewSolo Oil PLC

Solo Oil issues shares at 2.56p each as small part of its convertible loan is converted

After the latest conversion and previous repayments, the par value outstanding on the loan is US$1.15mln

US dollars
During the term of the convertible loan facility, the investors have committed to not holding any short positions in Solo's shares

Under the terms of the US$5mln convertible debt funding deal announced last November, Solo Oil PLC (LON:SOLO) has allotted 3.39mln shares at 2.56p each.

YA II PN Ltd and Cuart Investments PCC Ltd have elected to convert a small portion of the loan, with an aggregate par value of US$116,168, into equity.

READ: Solo Oil unveils US$5mln convertible debt funding​

Following the issue of shares to the investors, the company's enlarged issued share capital will comprise 462,848,416 ordinary shares.  

Quick facts: Solo Oil PLC

Price: 2.425 GBX

AIM:SOLO
Market: AIM
Market Cap: £15.32 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Solo Oil PLC named herein, including the promotion by the Company of Solo Oil PLC in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Solo Oil's Neil Ritson on Horse Hill, Ruvuma and plans to refresh the team

Neil Ritson, chairman of Solo Oil PLC (LON:SOLO), discusses with Proactive's Andrew Scott the first batch of production testing results from Horse Hill,  the decision by their partner at Ntorya, Aminex plc (LON:AEX) to farm-out two-thirds of its 75% interest in the project and the...

on 19/7/18

2 min read