Everest Global Plc Extension of Convertible Loan Note redemption date

 
TIDMEVST 
 
02 October 2023 
 
Everest Global plc 
 
("Company") 
 
Extension of Convertible Loan Note redemption date 
 
The directors of the Company are pleased to announce that on 29 September 2023, 
Golden Nice International Group Limited (a company wholly owned by Mr Ziwei 
Peng), being the holder of the outstanding Convertible Loan Notes ("CLN's") in 
the Company, agreed to extend the redemption date by 18 months from 30 September 
2023 to 31 March 2025. 
 
As at today's date, excluding any accrued interest, £254,450 of CLNs remain 
outstanding pursuant to convertible loan note deeds, further details of which 
are set out in the table below: 
 
Convertible    Date of                   Number of    Old         Conversion 
Loan Note      Instrument                Convertible  Redemption  Price 
Issue                                    Loan Notes   Date/ 
                                         outstanding  New 
                                                      Redemption 
                                                      Date 
£250,000       1 October 2018  £162,500  3,250,000    30          £0.05 per 
unsecured      (as amended on                         September   Ordinary 
convertible    5                                      2023/       Share 
loan notes of  October 2020                           31 March 
£0.05 each     and on 29 July                         2025 
               2022) 
£750,000       31 March 2021   £91,950   1,839,000    30          £0.05 per 
unsecured      (as amended on                         September   Ordinary 
convertible    29                                     2023/       Share 
loan notes of  July 2022 and                          31 March 
£0.05 each     24 January                             2025 
               2023) 
Total:                         £254,450  5,089,000 
 
On conversion of each CLN, the holder of the CLN will receive two corresponding 
warrants to subscribe for a new ordinary share of £0.02 each in the Company, one 
at 5p and the other at 10p exercisable on 31 December 2025 and 31 December 2026 
respectively. 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the 
European Union (Withdrawal) Act 2018). 
 
The directors of the Company accept responsibility for the content of this 
announcement. 
 
For further information please contact: 
 
Everest Global plc 
 
Andy Sui, Chief Executive Officer  +44 (0) 776 775 1787 
 
Rob Scott, Non-Executive Director  +27 (0)846006 001 
 
Cairn Financial Advisers LLP 
Jo Turner / Emily Staples          +44 (0) 20 7213 0885 / +44 (0)20 7213 0897 
 
 
This information was brought to you by Cision http://news.cision.com 
https://news.cision.com/everest-global-plc/r/extension-of-convertible-loan-note-redemption-date,c3845717 
 
 
END

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October 02, 2023 02:00 ET (06:00 GMT)

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