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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

Market: AIM
Market Cap: £15.32 m

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