28 October 2024
i-nexus Global
plc
("i-nexus", the
"Company" or the "Group")
Extension of Redemption Date of
Convertible Loan Notes
i-nexus Global plc (AIM: INX), a
leading provider of cloud-based strategy software solutions
designed for the Global 5000, announces that the Company has agreed
with the holders of the 2020 Convertible Loan Notes, 2021
Convertible Loan Notes and 2023 Convertible Loan Notes to
extend the final redemption dates for each by one year,
having passed the written resolutions. The final redemption
dates are now as follows:
·
2020 Convertible Loan Notes: 4 November 2026
·
2021 Convertible Loan Notes: 29 September 2026
·
2023 Convertible Loan Notes: 7 July 2026
Other than the final redemption date, the terms
of each of the Convertible Loan Note tranches, a summary of
which were announced by the Company on 19 October 2020, 13
September 2021 and 21 June 2023 respectively, remain
unchanged.
Richard Cunningham, Non-Executive Chairman and
Director of the Company, holds Convertible Loan Notes with an
aggregate par value of £318,000.
Herald Investment Management Limited, a
"Substantial Shareholder" for the purposes of the AIM Rules, holds
Convertible Loan Notes with an aggregate par value
of £1,670,000. Accordingly, the extension of the term of the
Convertible Loan Notes constitutes a related party transaction
under Rule 13 of the AIM Rules.
The Directors other than Richard
Cunningham consider, having consulted with Singer Capital
Markets, the Company's Nominated Adviser, that the amended terms of
the each of the Convertible Loan Note tranches are fair and
reasonable in so far as Shareholders in the Company are
concerned.
For further
information please contact:
|
i-nexus Global
plc
Simon Crowther, CEO
Drew Whibley, CFO
|
Via: Alma
Strategic Communications
|
|
Singer Capital
Markets (Nominated Adviser and Broker)
Sandy Fraser / Alex
Bond (Investment Banking)
|
Tel: +44
(0)207 496 3000
|
|
Alma Strategic
Communications
Caroline Forde/ Robyn Fisher
|
Tel: +44
(0)203 405 0205
|
About
i-nexus Global plc
i-nexus Global plc ("i-nexus") helps
organisations achieve their goals. Whether executing a strategy,
driving operational excellence and continuous performance
improvement, or coordinating portfolios and programs to transform
results, i-nexus strategy execution software underpins
success.
Today, we support organisations in managing
over 200,000 strategic programmes around the world.
i-nexus transforms how organisations plan,
execute, and track goals. We inspire the confidence to leave
behind the spreadsheets, presentations and reports those
organisations rely on, replacing it with a cloud-based,
collaborative solution.