(Alliance News) - Mondo TV Spa on Friday received a request from CLG Capital to convert one of 12 bonds issued on Dec. 19 with a total par value of EUR125,000.

The issue took place as part of the investment agreement whereby CLG Capital undertook to subscribe for 60 bonds convertible into shares with a value of EUR125,000 each.

The price was found to be EUR0.20838 per share. Therefore, the bonds being converted entitle the holder to subscribe for 599,866 ordinary shares of Mondo TV equal to more than 0.9 percent of the currently outstanding share capital.

These new shares will be issued on February 26, 2024, and given the previous issues, Mondo TV's share capital will consist of approximately 63.4 million ordinary shares.

From the total 60 bonds agreed upon, this leaves another 48, the company announced in a note. Of the 12 bonds already issued, in addition, seven related to the first tranche are yet to be converted.

Mondo TV's stock closed Friday 2.2 percent in the red at EUR0.23 per share.

By Chiara Bruschi, Alliance News reporter

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