Gunsynd PLC Partial Conversion of Loan Note in Rogue Baron (5949M)
January 22 2021 - 3:52AM
UK Regulatory
TIDMGUN
RNS Number : 5949M
Gunsynd PLC
22 January 2021
Gunsynd plc
("Gunsynd" or the "Company")
Partial Conversion of Loan Note in Rogue Baron
Gunsynd Plc (AIM: GUN, AQSE: GUN) announces the following update
regarding Rogue Baron Ltd ("Rogue Baron"), a premium spirits
company in which Gunsynd holds a convertible loan note ("Loan
Note").
As part of the listing process on the Aquis Stock Exchange
(AQSE) Growth Market, Gunsynd has agreed to the conversion of
GBP396,635 of the Loan Note into 10,000,000 ordinary shares in
Rogue Baron at a price of GBP0.0397 per share, representing
approximately 19.7% of the current issued share capital of Rogue
Baron.
Gunsynd intends to convert the remainder of the Loan Note upon
admission of Rogue Baron's shares to trading on AQSE. The
conversion of the remainder of the Loan Note would be at such price
as would affect the average conversion price of the whole Loan
Note, with the effect being that Gunsynd would convert the entire
Loan Note at an average price per share determined by dividing
GBP1,616,304 (representing the agreed valuation of the ordinary
share capital of Rogue Baron) by the total number of ordinary
shares in Rogue Baron in issue on IPO.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the Company's ability to execute
and implement future plans, and the occurrence of unexpected
events. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.
The Directors of Gunsynd accept responsibility for this
announcement.
For further information please contact:
Gunsynd plc
Hamish Harris/ Peter Ruse +44 (0) 78 7958 4153
Cairn Financial Advisers LLP
James Caithie / Liam Murray / Mark Rogers +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
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END
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