Jade Road Investments Limited Further tranche of convertible loan notes
September 25 2024 - 1:00AM
RNS Regulatory News
RNS Number : 5130F
Jade Road Investments Limited
25 September 2024
25 September 2024
JADE ROAD INVESTMENTS
LIMITED
("Jade Road Investments",
"JADE" or the "Company)
Further tranche of
convertible loan notes
Further to its announcement on 18
September 2024 in relation to the constitution of £1,000,000 in
principal value of convertible loan notes (CLN), Jade Road Investments Limited
(AIM: JADE) is pleased
to announce that today it has agreed with two of its current
directors (Stuart Crocker and Hugh Trenchard) and Dr Lee George Lam
that each of them will waive outstanding director fees due and
payable to them by the Company in consideration for the issue to
them instead of a corresponding value of CLN. Jade has
therefore issued a further £86,920 in aggregate principal value of
CLN to those directors. As of today, £166,920 in aggregate
principal value of CLN has been issued by the Company (including
the £80,000 in principal value of CLN issued to MBM).
The Company has carried out this
transaction to clean up the Company's balance sheet and to manage
the Company's working capital position which remains tight. The
director independent of the transaction, being Executive Chairman
John Croft considers, having consulted with Zeus Capital Limited,
the Companies nominated adviser, that the terms of the transactions
are fair and reasonable insofar as its shareholders are
concerned.
Further
announcements will be released to update on further tranches of the
CLN being issued as well as updates on target investment
opportunities.
For further information, please
contact:
Jade Road Investments
Limited
+44 (0) 778 531 5588
John Croft
Zeus Capital Limited - Nominated
Adviser
+44 (0) 203 829 5000
James Joyce
Hybridan LLP - Nominated
Broker
+44 (0) 20 3764 2341
Claire Louise Noyce
This announcement contains inside
information for the purposes of Article 7 of the UK version of
Regulation (EU) No 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018, as amended. Upon the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain
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END
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