Arria NLG Plc (AIM:NLG) announced that it has entered into an agreement with existing and new investors for the private placement of unsecured convertible loan notes for gross proceeds of £2,700,000 on October 3, 2016. The company will also issue two unlisted C warrants to subscribe for new ordinary shares in the company for each $1.00(£0.77029) invested exercisable for a period up to June 11, 2019, at £0.12 per ordinary share. The transaction is subject to completion of the relevant documentation. The notes can be converted into ordinary shares of the company at a fixed conversion price of £0.40 per share. The notes will mature on October 31, 2019 and will carry an interest at the Bank of England base rate plus 5%, payable in cash, either annually or upon maturity. The company has a right to make repayment before the maturity date. The conversion was made through www.oanda.com on October 3, 2016.