TIDMIMCP
Convertible Loan Issue
6 March 2014
IMC Exploration Group Plc
("IMC" or the "Company" or the "Group")
Convertible Loan Issue
IMC Exploration Group Plc announces that it has entered in to an agreement with Wilhan Ltd for the subscription of funds by way of a convertible loan note of up to Euro 200,000 (two hundred thousand) being the principal amount.
The first Euro100,000 of the loan note is available for immediate draw down and will be used to provide the company with working capital. The balance of the loan note will be available for draw down within the next six months at the call of the company.
Details of the Convertible Loan Note:
The convertible loan notes will be unsecured and carry a coupon rate of up to 10% and will be convertible, at any time within one year at the holders election, into ordinary
shares of GBP0.02 per share, such shares ranking pari pasu with all other shares.
Wilhan Ltd is a private investment vehicle where Director Liam McGrattan is also a Director and Chairman of IMC.
The Directors of the issuer accept responsibility for this announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
LHM Casey McGrath
Mr. Con Casey
Tel. Ireland: +353 1 495 9200
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IMC EXPLORATION GROUP PLC
(END) Dow Jones Newswires
March 06, 2014 12:57 ET (17:57 GMT)
