Full details and terms for AMP Convertible Loan Notes are set out here
The Company has GB £10,012,100 Fixed Rate Secured Convertible Loan Notes 2021 listed on the Channel Islands Securities Exchange.
During the year to 31 March 2017, the Company issued two tranches of Convertible Notes comprising £5.94m in aggregate and they have a conversion price equal to 86 pence per Ordinary Share. The initial tranche of Convertible Notes were issued in March 2016 for a nominal value of £4.07m and are identical in every respect, save for the conversion price, which is 70 pence per Ordinary Share. The Company can redeem the Convertible Notes at par after 31 March 2018 or the Convertible Note holder can convert the Convertible Notes into Ordinary Shares. The Convertible Notes have an 8 per cent. coupon per annum, paid quarterly in arrears and redeem at par, if not previously converted, on 30 March 2021.