Aspartus plc
LSE : ASPP

November 16, 2009 11:07 ET

Conversion of Loan Notes

                                               ASPARTUS PLC
                                         Conversion of loan notes
                                                     
Aspartus Plc ("Aspartus" or "the Company") announces that it has received a conversion notice from Westward
Consultants  Limited, the holder of the Convertible Unsecured Loan Notes 2012, to convert GBP 12,539.40  of
loan notes into 27,865,333 ordinary shares. This represents the balance of the loan note.

Accordingly, 27,865,333 new Ordinary Shares in the Company have been issued in satisfaction thereof

Furthermore  the  Directors  wish to announce that due to an administrative oversight  they  are  also  now
announcing that on 2 November 2009 they were informed that Westward Consultants Limited had disposed of its
entire  shareholding  in  the  Company and subsequently on 3 November 2009  that  the  Company  received  a
conversion  notice  from Westward Consultants Limited, the holder of the Convertible Unsecured  Loan  Notes
2012,  to  convert  GBP  11,250 of loan notes into 25,000,000 ordinary shares. Accordingly  25,000,000  new
Ordinary Shares in the Company were issued in satisfaction thereof.

Following the issue of these shares, the shareholdings of the directors has not changed but the percentage
holdings are now as set out below:
   
DIRECTOR                       NO. OF SHARES       
    %
Leo Knifton                     5,166,667             4.03
Nigel Weller                    5,166,667             4.03
Stephen Oakes                   5,166,666             4.03

The Company has been notified of the following interests in its issued share capital:

SHAREHOLDER                                      NO. OF SHARES                       %
Westward Consultants Limited                      27,666,667                       21.56
Cairns Investment Holdings Limited                16,000,000                       12.47
William Rhodes                                    10,000,000                        7.79
Robert Dunley                                      9,999,999                        7.79
Des Howett                                         4,000,000                        3.12
Padraig Breen                                      4,000,000                        3.12
Thomas O'Connor                                    4,000,000                        3.12

The  beneficial  owner of Cairns Investment Holdings Limited is Mr David Rowland. The beneficial  owner  of
Westward Consultants Limited is Mr Stephen Wheatley.

The Company now has 128,324,683 shares in issue.

The Directors of the Issuer accept responsibility for this announcement.


FOR FURTHER INFORMATION PLEASE CONTACT:

Nigel Weller, Director
Aspartus plc
Tel: 020 7309 2281

Nick Michaels
Alfred Henry Corporate Finance Limited
Tel: 020 7251 3762


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