PHOENICIAN III ANNOUNCES FURTHER FINANCING
Phoenician III announces that it has issued 5,523,135 ordinary shares of nil par value to raise GBP793,284, of which GBP155,000 was being held in escrow and has now been released to the Company. The Ordinary Shares rank pari passu with all existing Ordinary Shares. The total number of Ordinary Shares now in issue is 8,856,467.
The following sets out the substantial shareholders' interests in the Company:
Shareholder | Number of Ordinary Shares | Percentage of issued share capital |
Saif Reza Alikhan | 458,333 | 5.1% |
Ashdale Investment Trust Services | 1,928,000 | 21.8% |
Stephen Cockerham | 416,666 | 4.7% |
Investments House Co. LLC | 416,666 | 4.7% |
Yousef Maki | 416,666 | 4.7% |
Octavian Growth LP | 1,666,666 | 18.8% |
Douglas J. Wright | 666,666 | 7.5% |
Wong Wai Ming | 666,666 | 7.5% |
The Directors' shareholdings remain unchanged, however the Directors now hold 5.6% of the entire issued share capital of the Company.
Phoenician III confirms that it has entered into a convertible debenture agreement with Douglas J. Wright pursuant to which the Company created a convertible debenture of GBP45,000 attracting an interest rate of 10% per annum, convertible into Ordinary Shares of the Company at a price of 3p per Ordinary Share. Any accrued interest under the Convertible Debenture Agreement may be converted into Ordinary Shares at the option of the Company at a price of 3p.
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