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Argus converts more debt to equity

Argus converts more debt to equity

Print management company Argus Solutions (ASX:ASV) has completed the a third subscription under its debt-to-equity agreement with suppliers Print Management Group and ADSone.

The company has now completed subscriptions totalling $3.49 million. Following these transactions the Print Media Group will own 36% of the company, while ADSone's Amir Hyster will own 44%.

If Print Media converts the remaining $850,000 of its debt into shares, its holding will be 42% and Amir Hyster will own 40%. If it also exercises its 15 million options, Print Media's holding will be bumped to 48%, and Hyster's will be 36%.

The first two subscriptions under the program had been completed in September.

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