Lombard Capital PLC - Further offer of convertible loan notes and warrants PR Newswire

28 June 2018

LOMBARD CAPITAL PLC

Further offer of convertible loan notes and warrants

The directors of Lombard Capital Plc (“Lombard” or “the Company”) announced on 20 September 2017, that they had offered for subscription (the “Offering”) up to £3,000,000 7.5 per cent Convertible Unsecured Loan Notes 2020 (the “Loan Notes”).

The Convertible Notes carry the right of conversion into Ordinary Shares at the rate of 10p per share.  The Convertible Notes will be issued together with warrants that entitle the holder to subscribe for Ordinary Shares at 10p per share.  The warrants will be issued for a number of shares that corresponds to the number of shares to be issued on conversion of the Convertible Notes in relation to which the warrants are granted.   The funding to be raised by the issue of the Convertible Notes is to be used as working capital for the Company and for the strategic objectives that have been adopted by the Board of Directors of the Company.

The Company has previously issued £195,000 of Convertible Notes (of which £75,000 have been converted into 750,000 Ordinary Shares and £120,000 are held with the right to convert into 1,200,000 Ordinary Shares) to those investors who applied for Convertible Notes under the Offering. The Directors have chosen to extend the Offering in order to raise further funding.

The purpose of the Offering was to raise funding of up to £3,000,000 by way of the Offering to subscribe for Convertible Notes.  The Convertible Notes are to be issued under the terms of the Convertible Note Instrument for cash to be advanced by those who subscribe for Convertible Notes under the Offering.  The funding to be raised by the issue of the Convertible Notes is to be used as working capital for the Company and for the strategic objectives that have been adopted by the Board of Directors of the Company.

The directors of Lombard Capital Plc accept responsibility for this announcement.

For further information please contact:

Brent Fitzpatrick

Tel:  07718 883813

NEX Exchange Corporate Adviser

Alfred Henry Corporate Finance Limited

Nick Michaels:  0203 772 0021