Fragrant Prosperity Holdings Announces New Convertible Loan Note Issuance and Refinancing
Why we think this is neutral
The RNS announcement does not contain any of the mandatory news types, such as contract news, order news, trading update, financing, funding, annual results, asset sale/disposal, flow testing, licence news, or delisting. Therefore, the sentiment is assessed as neutral.
Key Points
- Issued new convertible loan notes for £125,000
- Refinanced £400,000 of existing £515,000 convertible loan notes
- Proceeds will be used to repay an existing convertible loan note holder
- Significantly improved and recapitalized balance sheet with no other convertible loan notes
Summary
The company has issued new convertible loan notes and refinanced existing convertible loan notes, improving its balance sheet.
Fragrant Prosperity Holdings Limited has issued new convertible loan notes for £125,000 and reached agreements with holders of its existing convertible loan notes to refinance £400,000 of the total £515,000 outstanding. The proceeds will be used to repay an existing convertible loan note holder, resulting in a significantly improved and recapitalized balance sheet with no other convertible loan notes in existence.
GENERAL UPDATE