Conversion of Loan Notes
Directors convert £35,000 of convertible loan notes into ordinary shares at formula-determined price.
- Convertible loan notes converted £35,000
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RentGuarantor (AIM: RGG), a provider of rent guarantee services to prospective tenants across the socio-economic spectrum wishing to rent property in the UK1 private rental sector, is pleased to announce the conversion of a principal value of £35,000 of the Company's outstanding convertible loan notes, whose issue was originally announced on 18 November 2024 and 08 January 2025 (the "CLN").
Under the terms of the CLN, the price at which the new Ordinary Shares of 10p each ("Ordinary Shares") will be issued is to be set at the lower of: (i) the average price at which the Ordinary Shares have traded during the sixty days prior to 29 September 2025 (being the date 10 business days after the conversion notice); and (ii) the closing share price on 29 September 2025 (the "Conversion Shares").
The CLNs being converted are held by the following directors of the Company or their associates:
| CLN Holder | Principal amount of CLN to be Converted |
|---|---|
| Graham Duncan | £15,000.00 |
| Kieron Becerra | £10,000.00 |
| David Cliff* | £10,000.00 |
* Held by Syritta Ltd, a company which is owned 51% by him with the remainder of this company owned by his wife.
A further announcement will be made once the conversion price for the Conversion Shares and the number of Conversion Shares to be issued are established and an application has been made for the Conversion Shares to be admitted to trading on AIM.
To engage with this announcement on our Investor Hub, please use the following link: https://investorhub.rentguarantor.com/link/yzjL2y
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.