Malvern International & KSP Investments agree to convert KSP free loan into convertible notes
Malvern International, the provider of services in the UK, Europe and Asia, has agreed to convert an existing "unsecured" interest free loan from one of its major shareholders into convertible loan notes.
Malvern International
20.00p
16:55 24/04/24
0.00%
0.00p
Support Services
10,566.99
17:09 24/04/24
-0.68%
-72.31
Malvern said it had agreed with KSP Investments, a substantial shareholder of the company, to convert its £1.2m loan into convertible loan notes, free of interest and unsecured until 31 December 2017.
The notes, the company added, would attract interest at a rate of 3%, rising up to 4% from 1 January 2019 and 5% from January 2020