SuperSeed Capital Limited Issue of Convertible Loan Notes (6654Z)
September 16 2022 - 1:00AM
UK Regulatory
TIDMWWW
RNS Number : 6654Z
SuperSeed Capital Limited
16 September 2022
16 September 2022
SuperSeed Capital Limited
("SuperSeed Capital" or the "Company")
Issue of Convertible Loan Notes
SuperSeed Capital Limited, a company established as a Venture
Capital fund of funds for early-stage technology investing, is
pleased to announce that it has established a GBP1m loan facility
through the issue of convertible loan notes (the "Convertible Loan
Notes") to SuperSeed Venture LLP ("Noteholder"), SuperSeed Ventures
LLP acts as SuperSeed Capital's investment manager.
The proceeds of the Convertible Loan Notes shall be used to fund
the Company's working capital and capital expenditure requirements
for the time being.
The Convertible Loan Notes together with accrued interest are
redeemable on 14 September 2024 ("Redemption Date").
The Convertible Loan Notes shall automatically convert, in part
or in full, at any time from the date of issue until the Redemption
Date, into fully paid ordinary shares in the Company ("Share") at a
price of GBP1.30 per Share ("Conversion Price") on written notice
of the Noteholder ("Conversion Notice").
Interest shall be payable on any outstanding Convertible Loan
Notes at a rate expected to be 10% - 15% per annum (subject to
changing market rates) calculated on the basis of a 365-day year
and the actual number of days elapsed from the date of issue of the
Convertible Loan Notes to the Redemption Date
Related Party Transaction
Mads Jensen is a director and a shareholder of the Company, and
a director of SuperSeed Ventures. The issue of the Convertible Loan
Notes therefore constitutes a related part transaction for the
purpose of Rule 4.6 of the AQSE Rules for Companies ("Related Party
Transaction").
Joe Truelove Sr. and Andy Hatton, are considered independent for
the purposes of considering and approving the terms of the
transaction on behalf of the Board (the "Independent Directors").
The Independent Directors have considered the terms of the
transaction are fair and reasonable insofar as the Company's
shareholders are concerned.
For more information, please visit www.superseed.com or contact:
SuperSeed Capital Limited +44(0)20 3405 3060
Mads Jensen, Investment Manager
VSA Capital - AQSE Corporate Adviser and Broker +44(0)20 3005 5000
Corporate Finance: Andrew Raca
Corporate Broking: Andrew Monk, Peter Mattsson, David
Scriven
Notes to Editors
SuperSeed Capital Limited is listed on the Aquis Stock Exchange
in February 2022 and will be investing as a limited partner of
SuperSeed Ventures' LLP second fund, SuperSeed Ventures II LP
("Fund II"). The Company may also invest in other investment funds
managed or advised by SuperSeed Ventures or any affiliate of
SuperSeed Ventures or other investment funds managed or advised by
third parties other than SuperSeed Ventures.
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