Online gambling marketing company B90 responded to a recent rise in its share price on Friday, confirming that there was no undisclosed price sensitive information.

Shares of the AIM-listed company hit a high of 32.81 pence on Thursday, after opening the day at 12.4 pence.

He said following his return to trading on AIM and raising an additional € 1.85million (£ 1.59million) via convertible loan notes on March 17, he had 4.39 million euros outstanding under its convertible loan.

The convertible loan had a three-year term and an annual coupon of 5%, payable in arrears on June 30 and December 31, with the first installment due at the end of June 2021.

He said the loan was convertible at any time by investors at a price of 5 pence per share, and would automatically convert at the same price if the closing price of the share was 10 pence or more for 25 consecutive business days.

In the event of a total conversion of the loans, this would result in the issue of 75,250,000 new shares, representing 73.2% of its current issued capital.

The company also agreed with some creditors that a total of 0.4 million euros would be converted into 6,917,130 new shares at the same price of 5 pence.

B90 said that while trading since the end of June has been in line with its revised expectations, it is still cutting operating costs to match its current operations.

“While the group has raised additional funds through the convertible loan, the group continues to depend on its ability to manage its cash resources carefully, continuing to manage its creditors and negotiate in accordance with management’s expectations.” the board said in a statement. his statement.

“In addition, if the discussions do not meet management’s expectations in the future, the group’s ability to meet its commitments could be affected, in which case the group will have to raise additional funds.

“In the event that this is required and while the Trustees are confident that they can raise such funding if necessary, there is no certainty that such funding will be available and / or the terms of such funding.”

As of 11:41 GMT, shares of B90 Holdings were down 38.48% to 20.3p.