Convertible Loan Note Closed
Falcon Media House (LSE:FAL), the global digital media group focused on the over-the-top (‘OTT’) market, today announces that the £10 million convertible loan note has been closed.
As announced on 17 October 2017, £3.4 million the convertible loan notes were issued by the Company and the capacity remained to raise up to further funds with the same instrument.
With the effects of the strategy update starting to flow through to the Company’s cash balances the Board believe there is no longer a requirement to maintain the capacity for further issuance of the convertible loan note and has therefore decided to formally close it at the £3.4 million already issued.
Gert Rieder, Chief Executive Falcon Media House, commented, “We believe that closing the convertible loan note at the current level of issuance demonstrates our confidence in the company’s financial position.”
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