Company Announcements

Conversion of Existing Convertible Loan Notes

Source: RNS
RNS Number : 2081E
GRIT Investment Trust PLC
26 October 2022

26 October 2022

GRIT Investment Trust PLC

("GRIT" or the "Company")

Conversion of Existing Convertible Loan Notes

Total Voting Rights

Conversion of Existing Convertible Loan Notes

The GRIT Board announces that with the consent of the Company, an aggregate of £37,013.95 principal of Existing Convertible Loan Notes held by Richard Lockwood, a Director of GRIT have been converted into 1,480,558 new ordinary shares of 2.5p each in the Company (the "Conversion Shares") at a conversion price of 2.5p per share, allotted and issued to Richard Lockwood.

Applications for Admission of the Conversion Shares

Applications have been made to the Financial Conduct Authority ("FCA") and the London Stock Exchange for the 1,480,558 Conversion Shares to be admitted to listing on the Official List (premium listing segment) and to trading on the London Stock Exchange's main market for listed securities ("Admission"). It is expected that Admission will become effective and trading in such Conversion Shares will commence at 8.00 a.m. on 31 October 2022.

Total Voting Rights

Following the issue of the 1,480,558 Conversion Shares, which on Admission will rank pari passu with the existing issued ordinary shares of 2.5p each in the Company ("Ordinary Shares"), the total number of Ordinary Shares in issue with voting rights in the Company will be 10,116,299. There are no Ordinary Shares held in treasury by the Company.

The above figure of 10,116,299 may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For more information, please contact:-


GRIT Investment Trust plc

Martin Lampshire

Tel: +44 (0) 20 3198 2554


Peterhouse Capital Limited

Lucy Williams/Duncan Vasey

Tel: +44 (0)20 7469 0930

The following information relating to the issue of the Conversion Shares to Richard Lockwood has been filed with the FCA in accordance with Article 19(1) of UK MAR:-


Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.


Details of the person discharging managerial responsibilities / person closely associated



Richard Lockwood


Reason for the notification







Initial notification /Amendment

Initial notification



Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



GRIT Investment Trust PLC






Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted



Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 2.5 pence



ISIN: GB00BL594W83


Nature of the transaction

Issue of 1,480,558 shares on conversion of aggregate £37,013.95 Convertible Loan Notes.


Price(s) and volume(s)


No. of shares

2.5 pence




Aggregated information

- Aggregated volume

- Price




2.5 pence


Date of the transaction

31 October 2022


Place of the transaction

Outside a trading venue


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