Proxama converts loan note, issues equity

Proxama said that on Feb. 1 it received a notice of exercise by Darwin Capital Ltd to convert a further 36 loan notes with an aggregate par value of £900,000 into equity in relation to the convertible loan note.

It said the Conversion Notice was received in aggregate for £900,000 of the loan notes. Proxama had thus issued 319.7m new shares to Darwin at an issue price of 0.281448p each.