INFOSERVE, the online local search specialist, revealed today that it has entered into conditional agreements with one of its major shareholders relating to the conversion of £2m in existing loans into shares.

The proposed deal will also see non-executive director David Hood offer a further loan facility of up to £800,000.

If approved, Mr Hood's stake in the company will increase from 46.86% to 82.84%.

It has been agreed to grant a waiver of the obligation that would otherwise arise for Mr Hood to......for the full story register now for free or login below...