Australian Special Opportunity Fund converts loan notes into shares of Herencia

AIM-listed Herencia Resources reported on Thursday that the Australian Special Opportunity Fund, LP, managed by The Lind Partners had exercised its right to convert convertible loan notes into shares.

The fund converted $120,000 of convertible loan notes into shares at an exercise price of £0.0001.

Following the conversion, 931m ordinary shares were issued and were expected to be admitted to trading on AIM, resulting in a total of 9.03bn shares in issue.

Dealings were expected to commence on or around 9 August 2017, the announcement read.

Lind also confirmed that after the admission of the ordinary shares they would hold 1.85bn ordinary shares, equivalent to 20.51% of the company's capital.

In addition, the company said it had agreed along with the Takeover Panel that Lind was acting in concert with the following individuals and entity who were introduced by Lind at the previous placing- Mr John Hancock, Mr Martin Rogers and Abundance Partners LP who together with Lind had a total interest in 2.06bn ordinary shares.

The total holding of Lind Partners would total 3.92bn ordinary shares if the company was to convert all its convertible interests in the company, including those interests already mentioned and those of the concert party.