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GRIT Investment Trust PLC announced that Director Richard Lockwood converted £63,507 principal of Existing Convertible Loan Notes into 2,540,279 new ordinary shares at 2.5p per share. Applications have been made for these new shares to be admitted to listing and trading on the London Stock Exchange, expected around 22 November 2022. Following admission, the total number of ordinary shares in issue with voting rights will be 15,196,857.
| Date | 16 Nov 2022 |
| Time | 13:16:27 |
| Category | Miscellaneous |
| ID | 6599G |
16 November 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 £63,507 principal of Existing Convertible Loan Notes held by Richard Lockwood, Directors of GRIT have been converted into 2,540,279 new ordinary shares (the "Conversion Shares") of 2.5p each in the Company at a conversion price of 2.5p per share, allotted and issued to Richard Lockwood.
Applications for Admission of the Conversion Shares
Applications have been made to the Financial Conduct Authority ("FCA") and the London Stock Exchange for the 2,540,279 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 or around 22 November 2022.
Total Voting Rights
Following the issue of the 2,540,279 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 15,196,857. There are no Ordinary Shares held in treasury by the Company.
The above figure of 15,196,857 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 and Richard Lockwood 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 |
Richard Lockwood |
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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 2,540,279 shares on conversion of aggregate £63,507 Convertible Loan Notes. |
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c) |
Price(s) and volume(s) |
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d) |
Aggregated information - Aggregated volume - Price |
2,540,279 2.5 pence |
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e) |
Date of the transaction |
22 November 2022 |
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f) |
Place of the transaction |
Outside a trading venue |
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