09-2020 5th Planet Games - Conversion of convertible notes
COPENHAGEN, February 11, 2020: 5th Planet Games A/S (OAX: FIVEPG) has received a
loan conversion notice from Formue Nord Fokus A/S requesting the conversion of
total NOK 300,000 into shares of the outstanding NOK 7,932,000 convertibles
notes issued in accordance with the Credit Facility agreement entered into with
Formue Nord Fokus A/S on May 24, 2019 (see announcement 3/2019 and 15/2019).
Following the loan conversion, Formue Nord Fokus A/S has been granted 1.026.904
shares at the conversion price of NOK 0.29 incl. a 10% discount. The granted
shares have been provided by one major shareholder in the company and no new
shares nor voting rights have therefore been issued at present. The shares will
however be issued at a later stage.
The total outstanding convertible notes amount to NOK 7,632,000.
Makes sense…