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ETHERSTACK PLC — Regulatory Filings 2013
Jan 23, 2013
64877_rns_2013-01-23_153bb5c0-1913-47d5-a204-0486192dc8fd.pdf
Regulatory Filings
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Etherstack plc | London 1[st] Floor, 28 Poland Street London, W1F 8QN UNITED KINGDOM E: [email protected] P : +44 20 7734 0200 F: +44 20 7437 1505
24th January 2013
ASX Announcement
ETHERSTACK PLC
[ASX:ESK]
("Etherstack" or the "Company")
CONVERTIBLE NOTE ISSUE
Etherstack plc advises it has successfully completed a Convertible Notes issue, raising an amount of AUD$3,000,000.
The key terms of the issue are set out below and it will be a condition precedent to the Notes’ conversion into shares that shareholder approval to the conversion be obtained. This approval will be sought at the AGM in 2013.
Funds raised from the issue of the Convertible Notes will be used to provide working capital.
Key terms of the Convertible Notes:
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The Convertible Notes are unsecured.
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The Convertible Notes shall convert into ordinary fully paid shares in the capital of Etherstack plc at a conversion price of AUD$1.75.
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The Convertible Notes are unlisted.
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Interest will accrue based on the 90 day bank bill swap rate plus 6% subject to a minimum interest rate. Accrued interest will be payable quarterly in arrears.
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If not converted the Convertible Notes will be repaid on 31 December 2015. Early conversion prior to maturity is at the option of the Noteholder.
About Etherstack plc (ASX:ESK):
Etherstack is a wireless technology company specialising in licensing mission critical radio technologies to equipment manufacturers and network operators around the globe. With a particular focus in the public safety, defence, utilities, transportation and resource sectors, Etherstack's technology can be found in radio communications equipment used in the most demanding situations. The company has R&D facilities in London, Sydney, New York, Yokohama, Barcelona, Berlin and Singapore.
For further information, contact:
David Carter Chief Financial Officer Etherstack plc +61 2 8399-7500
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English Registered Company No. 7951056 | ARBN 156 640 532
Sydney Yokohama +61 2 8399 7500 +81 45 342 9050 [email protected] [email protected]
Singapore Barcelona New York +65 8189 6200 +34 93 487 4929 +1 917 661 4110 [email protected] [email protected] [email protected]