Kenetics Group Raises GBP0.3M Issue Convertible Loan Facility

13th Jul 2010 07:29

LONDON (Dow Jones)--Kenetics Group Limited (KEN.LN), an investment holding company, announced Tuesday that they have raised GBP300,000 by the issue of an interest-bearing redeemable convertible loan, due Jun. 30, 2012. MAIN FACTS: -Interest will be payable monthly at the rate of 12 % per annum. -The Loan may be converted on written notification at any time after the expiry of the loan in whole or in part provided always that the total number of shares shall not at any time exceed 1% of the Borrower's total shareholding. -The conversion price is fixed at GBP0.05 per share -Shares closed Monday at 3.50 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires July 13, 2010 02:29 ET (06:29 GMT)