RMG Limited (ASX:RMG) announced a private placement of 500,000 convertible notes at a price of AUD 1.312 per note for gross proceeds of AUD 656,000 on August 1, 2018. The notes carry fixed interest rate of 10% per annum. The unsecured notes has the redemption date of June 30, 2019. The notes are convertible into common shares at AUD 0.016 per share and is subject to shareholders' approval. The notes are subject to the receipt of regulatory approvals.