New Talisman issues shares in debt conversion

New Talisman Gold Mines Limited (NZX:NTL) has announced the issuance of 1,500,000 ordinary shares as part of a partial conversion of a Convertible Note debt security held by Hamish Brown. The amount payable for these shares is NZ$60,390, reflecting a 15% discount on the 20-day VWAP (volume-weighted average price) of NTL shares, as outlined in the note's terms. The company clarified that a full conversion of the note into ordinary shares would exceed the 20% threshold stipulated by the New Zealand Takeovers Code concerning NTL's total issued share capital. For now, the remaining balance of the note will maintain its current terms, subject to the Board's discretion, with potential for further conversion into shares should regulatory conditions allow.