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GRIT Investment Trust PLC announced on 24 October 2022 that Director Malcolm Burne converted £37,500 principal of Existing Convertible Loan Notes into 1,500,000 new ordinary shares at a conversion price of 2.5p per share. Applications for admission to listing and trading on the London Stock Exchange for these shares are expected to become effective on 27 October 2022, following which the total voting rights in the Company will be 6,535,741 ordinary shares.
| Date | 24 Oct 2022 |
| Time | 11:31:40 |
| Category | Miscellaneous |
| ID | 8924D |
24 October 2022
GRIT Investment Trust PLC
("GRIT" or the "Company")
Conversion of Existing Convertible Loan Notes
Total Voting Rights
Conversion of Existing Convertible Loan Notes
The GRIT Board announces that with the consent of the Company, an aggregate of £37,500 principal of Existing Convertible Loan Notes held by Malcolm Burne, a Director of GRIT have been converted into 1,500,000 new ordinary shares of 2.5p each in the Company (the "Conversion Shares") at a conversion price of 2.5p per share, allotted and issued to Malcolm Burne.
Applications for Admission of the Conversion Shares
Applications have been made to the Financial Conduct Authority ("FCA") and the London Stock Exchange for the 1,500,000 Conversion Shares to be admitted to listing on the Official List (premium listing segment) and to trading on the London Stock Exchange's main market for listed securities ("Admission"). It is expected that Admission will become effective and trading in such Conversion Shares will commence at 8.00 a.m. on 27 October 2022.
Total Voting Rights
Following the issue of the 1,500,000 Conversion Shares, which on Admission will rank pari passu with the existing issued ordinary shares of 2.5p each in the Company ("Ordinary Shares"), the total number of Ordinary Shares in issue with voting rights in the Company will be 6,535,741. There are no Ordinary Shares held in treasury by the Company.
The above figure of 6,535,741 may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
For more information, please contact:-
GRIT Investment Trust plc
Martin Lampshire
Tel: +44 (0) 20 3198 2554
Peterhouse Capital Limited
Lucy Williams/Duncan Vasey
Tel: +44 (0)20 7469 0930
The following information relating to the issue of the Conversion Shares to Malcolm Burne has been filed with the FCA in accordance with Article 19(1) of UK MAR:-
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Malcolm Burne |
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2 |
Reason for the notification |
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a) |
Position/status |
Director
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b)
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Initial notification /Amendment |
Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
GRIT Investment Trust PLC |
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b) |
LEI |
2138005OJKGWG3X4SY51 |
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4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a)
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Description of the financial instrument, type of instrument Identification code |
Ordinary shares of 2.5 pence
ISIN: GB00BL594W83 |
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b) |
Nature of the transaction |
Issue of 1,500,000 shares on conversion of aggregate £37,000 Convertible Loan Notes. |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
1,500,000 2.5 pence |
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e) |
Date of the transaction |
27 October 2022 |
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f) |
Place of the transaction |
Outside a trading venue |
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