Lb-shell plc (LSE:LBP) announced a private placement of unsecured convertible loan notes for gross proceeds of 300,000 on May 4, 2018. The transaction included participation from individual investors Melissa Sturgess for £150,000, Charles Morgan for £100,000 and Michael Langoulant for £40,000. The notes have no interest and will mature in 36 months from the date of closing.