Exercise of Options & Conversion Rights
Updated : 18:03
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
21 September 2022
TINTRA PLC
("TNT", the "Group" or the "Company")
Exercise of Options and Conversion Rights
PCA Dealing & Holding in Company
Exercise of Options
The Board of Directors of the Company (the "Board") announces that it received on 16 September 2022 a notice to exercise options from a former director of the Company (the "Option Shares"). The details of which were originally announced on 24 April 2018. The option required the payment of £20,000 to the Company. As such it is today issuing 20,000 ordinary shares of 1 pence each ("Ordinary Shares") at an exercise price of 100p per Ordinary Share following receipt of payment.
Convertible Loan Notes
The Company has today received a notice from Tintra Acquisitions Limited ("TAL"), that in accordance with the financing agreement announced on 25 March 2021 (as amended by the announcement of 15 July 2021), that TAL wishes to settle £100,000 of its existing loan facility to the Company (the "Loan" - current balance £467,500 plus accrued interest) through the issue of £100,000 of 5%, 3-year, convertible loan notes, convertible at a price of 10 pence per Ordinary Share (the "Convertible Loan Notes").
Immediately following the issue of the Convertible Loan Notes, TAL has today requested to convert £25,000 of the Convertible Loan Notes into 250,000 Ordinary Shares (the "Conversion Shares"). Following the issue of the Convertible Loan Notes and the Issue of the Conversion Shares, the balance of the Loan will be £367,500 (plus accrued interest) and TAL will hold £75,000 on Convertible Loan Notes.
PCA Dealing
TAL has today informed the Company that it has sold 90,000 Ordinary Shares in order to settle tax liabilities related to past Ordinary Share transactions. Details of the transactions can be found below (the "Sale").
Admission and Total Voting Rights
An application for the Option Shares and the Conversion Shares to be admitted to trading on AIM will be made, with admission expected to become effective on or around 28 September 2022 ("Admission").
On Admission, the Company will have 15,118,669 Ordinary Shares in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 15,118,669 and this figure may be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Holding in the Company
On Admission (and subsequent to the Sale), TAL will hold 3,978,611 Ordinary Shares, equivalent to 26.32% of the current issued Ordinary Shares.
Richard Shearer, Group CEO and Director of TAL commented, "Today's conversion by TAL is in line with the long-stated strategy I and John Cripps have shared of TAL ensuring that it maintains itself as a Person of Significant Control ("PSC") during each funding round dilution, whilst at the same time continuing to remain below the 29.9% ownership threshold rules."
For further information, contact:
Tintra PLC (Communications Head) Hannah Haffield h.haffield@tintra.com Website www.tintra.com | 020 3795 0421 |
Allenby Capital Limited (Nomad, Financial Adviser & Broker) John Depasquale / Nick Harriss / Vivek Bhardwaj | 020 3328 5656 |
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Tintra Acquisitions Limited | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| PCA of PDMR (R Shearer - CEO) | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name | Tintra plc | ||||
b)
| LEI | 213800YKVH5ISMCNWJ42 | ||||
4
| 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 | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 1p
GB00BHXM9D70 | ||||
b)
| Nature of the transaction | Sales of shares | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price |
90,000 237.43p | ||||
e)
| Date of the transaction | 65,000 - 16 Sep 2022 20,000 - 15 Sep 2022 5,000 - 14 Sep 2022 | ||||
f)
| Place of the transaction | LSE | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Tintra Acquisitions Limited | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| PCA of PDMR (R Shearer - CEO) | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name | Tintra plc | ||||
b)
| LEI | 213800YKVH5ISMCNWJ42 | ||||
4
| 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 | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 1p
GB00BHXM9D70 | ||||
b)
| Nature of the transaction | Issue of £100,000 of convertible loan notes, convertible at 10p per ordinary share | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price |
| ||||
e)
| Date of the transaction | 21 Sep 2022
| ||||
f)
| Place of the transaction | N/A | ||||
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name | Tintra Acquisitions Limited | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| PCA of PDMR (R Shearer - CEO) | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name | Tintra plc | ||||
b)
| LEI | 213800YKVH5ISMCNWJ42 | ||||
4
| 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 | |||||
a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 1p
GB00BHXM9D70 | ||||
b)
| Nature of the transaction | Conversion of £25,000 of convertible loan notes, convertible at 10p per ordinary share | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price |
| ||||
e)
| Date of the transaction | 21 Sep 2022
| ||||
f)
| Place of the transaction | N/A | ||||
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