Tekcapital plc Loan Agreement with Innovative Eyewear Inc (5933Z)
January 12 2024 - 11:31AM
UK Regulatory
TIDMTEK
RNS Number : 5933Z
Tekcapital plc
12 January 2024
The information contained within this announcement is deemed by
the Company (Companies House registration number 08873361) to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 ("MAR"). With the publication of this
announcement via a Regulatory Information Service ("RIS"), this
inside information is now considered to be in the public
domain.
12 January 2024
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Loan Agreement with Innovative Eyewear Inc
Tekcapital Plc (AIM: TEK) the UK intellectual property
investment group focused on creating valuable products that can
improve people's lives, announces that it has entered into a loan
agreement with Innovative Eyewear Inc and Tekcapital Europe ltd, a
wholly owned subsidiary of Tekcapital plc.
The amount of the loan is GBP600,000, the term of the loan is 90
days, and the annual interest rate is 10% (the "Loan"). The Loan is
unsecured and is being used by Tekcapital to contribute towards the
proposed placing and Admission to trading on AIM of MicroSalt
plc.
Tekcapital currently owns approximately 87% of the share capital
of MicroSalt plc and 92% of MicroSalt Inc. its U.S. subsidiary.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed discoveries that can enhance people's lives
and provides a range of technology transfer services to help
organisations evaluate and commercialise new technologies.
Tekcapital is quoted on the AIM market of the London Stock Exchange
(AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com .
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Broker) +44 (0) 20 3470 0470
Richard Morrison / Charlie Bouverat (Corporate
Finance)
Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0)207 129
1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving MicroSalt that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Tekcapital's management.
Please note that these are subject to a number of risks,
uncertainties and factors, including, but not limited to those
described in various disclosures. Should one or more of these risks
or uncertainties materialize or should underlying expectations not
occur or assumptions prove incorrect, actual results, performance
or achievements of Tekcapital may vary materially from those
described explicitly or implicitly in the relevant forward-looking
statement. Tekcapital does not intend, nor assumes any obligation,
to update or revise these forward-looking statements in light of
developments which differ from those anticipated.
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END
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