Everest Global Plc - Extension of Convertible Loan Note redemption date
October 02 2023 - 2:00AM
PR Newswire (US)
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
Loan Note Issue
|
Date
of Instrument
|
|
Number
of Convertible Loan Notes outstanding
|
Old
Redemption Date/ New Redemption Date
|
Conversion
Price
|
|
£250,000
unsecured convertible loan notes of £0.05 each
|
1 October
2018 (as amended on 5 October 2020 and on 29 July 2022)
|
£162,500
|
3,250,000
|
30
September 2023/ 31 March 2025
|
£0.05 per
Ordinary Share
|
|
£750,000
unsecured convertible loan notes of £0.05 each
|
31 March
2021 (as amended on 29 July 2022 and 24 January 2023)
|
£91,950
|
1,839,000
|
30
September 2023/ 31 March 2025
|
£0.05 per
Ordinary Share
|
|
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
Rob Scott,
Non-Executive Director
|
+44 (0)
776 775 1787
+27
(0)84 6006
001
|
|
|
|
|
Cairn
Financial Advisers LLP
|
|
|
Jo Turner
/ Emily Staples
|
+44 (0) 20
7213 0885 / +44 (0)20 7213 0897
|
|
|
|
Copyright r 02 PR Newswire
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