Amendment to CULS

28 Jan 2005 07:00

Mondas PLC28 January 2005 27 January 2005 Mondas plc ("Mondas" or "the Company") Variation of terms of the 8% convertible unsecured loan stock 2005 ("CULS") The directors of Mondas are pleased to propose a variation of the terms of theCULS. Each £1 nominal of the CULS is convertible into two Ordinary Shares of 10p eachin the Company. The CULS currently carry a coupon of 8 per cent and areredeemable on 31 October 2005. Under the terms of the proposed variation, the redemption date is to be extendedto 31 October 2007 and the coupon increased to 8.75 per cent with effect from 1November 2005. All other terms, including as to conversion, will remainunchanged. The variation is to be effected by the passing of a special resolution by CULSholders at an extraordinary general meeting of the CULS holders ("EGM"). TheCompany has accordingly convened an EGM for 21 February, 2005. As at today's date the Company has received irrevocable undertakings to vote infavour of the resolution effecting the variation from CULS holders whosestockholdings as at todays date total £2,682,500 nominal, representing 89.42 percent of the CULS in issue. - ENDS - Enquiries: Mondas PLC Tel: 020 7392 1300Jarlath McGee, Chief ExecutiveIan Selby, Finance Director Teather & Greenwood Tel: 020 7426 9000James GlancyStephen Austin College Hill Tel: 020 7457 2020Matthew Smallwood/Clare Warren This information is provided by RNS The company news service from the London Stock Exchange