By Devika Patel
Knoxville, Tenn., April 25 - Amazing Holdings plc said it has arranged a £5 million private placement of secured convertible loan stock.
The stock will carry a 12.9% coupon, payable quarterly. It is repayable at any time, and matures in three years and is convertible into common shares at the rate of 100 shares per £150, subject to adjustment if gaming is legalized in the Republic of China.
Proceeds will be used to facilitate an increase in production of steam cleaning equipment, to add to the company's cash reserves for working capital purposes and to provide a fund to facilitate the company's acquisition strategy.
Amazing Holdings is a holding company based in Isle of Man, Great Britain.
| Issuer: | Amazing Holdings plc
|
| Issue: | Convertible loan stock
|
| Amount: | £5 million
|
| Maturity: | Three years
|
| Coupon: | 12.9%, payable quarterly
|
| Conversion ratio: | 100 shares per £150
|
| Price: | Par
|
| Yield: | 12.9%
|
| Warrants: | No
|
| Pricing date: | April 25
|
| Stock symbol: | London: AMZ
|
| Stock price: | 162p at close April 24
|
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