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LONDON - Capai PLC announced the conversion of all outstanding convertible loan notes (CLNs) and the issuance of new ordinary shares, a move that has significant implications for the company’s capital structure. Following the conversion, 123 million new ordinary shares of nominal value £0.00001 each (CLN Shares) have been created, eliminating all outstanding CLNs.
In a related action, the company has issued 63.5 million new ordinary shares (Fee Shares) to settle outstanding fees, as per its previous announcement on January 29, 2025. Both the CLN Shares and the Fee Shares, totaling 186.5 million new shares (New Ordinary Shares), are expected to be admitted to the Official List of the Financial Conduct Authority (FCA) and to trading on the London Stock Exchange (LON:LSEG)’s (LSE) main market around 8:00 a.m. on April 11, 2025.
This development follows the company’s March 12, 2025 announcement regarding the listing of Fundraising Shares and Fundraising Warrants, which are now trading on the LSE. The transactions involved participations by Professor Ronjon Nag, Richard Edwards, and Sarah Davy, who are Persons Discharging Managerial Responsibilities (PDMRs) within the company.
With the admission of the New Ordinary Shares, Capai PLC’s total issued share capital will be 3,121,102,336 Ordinary Shares, with the same number of voting rights, as the company does not hold any shares in treasury. This total share count will serve as the denominator for shareholders to calculate changes in their interest in the company’s share capital, in accordance with the FCA’s Disclosure Guidance and Transparency Rules.
The information is based on a press release statement from Capai PLC, which provided details on these corporate actions. The company has not disclosed any further information regarding the strategic rationale behind the conversion of the CLNs or the issuance of the Fee Shares. Shareholders and potential investors are advised to monitor these developments, as they may influence the company’s financial position and stock performance.
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