REG - Boston International - Convertible Loan Note Repayment Date Extended

Boston International HoldingsAnnouncement

07/03/2022 07:00

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RNS Number : 7681D  Boston International Holdings PLC  07 March 2022

7 March 2022

BOSTON INTERNATIONAL HOLDINGS PLC

("BIH" or the "Company")

Convertible Loan Note Final Repayment Date Extended

The Board of Directors of BIH announces that Boston Merchant (HK) Ltd ("BMHK")
and Emirates Funds Exchange Pltd, the holders of all the £125,714 convertible
loan notes created and issued by BIH on 12 April 2021 (the "Convertible Loan
Notes"), have both agreed to extend the final repayment date of the
Convertible Loan Notes from 31 March 2022 to 30 September 2022. All other
terms of the Convertible Loan Notes remain unchanged and as announced on 1
April 2021.

BMHK is 98.04% owned by Borden James, a director of BIH, and accordingly the
extension of the final repayment date is deemed to be a 'related party
transaction' pursuant to DTR 7.3.

Christopher Pitman, Martin Lampshire and Richard Hartheimer, the three other
directors of BIH (each of whom is independent of BMHK), consider that the
terms of the related party transaction are fair and reasonable insofar as the
shareholders of BIH are concerned and accordingly have approved it. Due to
Borden James' shareholding in BMHK, he did not participate in the approval or
vote.

 

For more information, please contact:-

 Boston International Holdings Plc
 Christopher Pitman, Chairman                  +44 (0) 7891 104329
 Beaumont Cornish Limited (Financial Adviser)
 Roland Cornish                                +44 (0) 20 7628 3396
 Peterhouse Capital Limited (Broker)
 Lucy Williams / Duncan Vasey / Eran Zucker    +44 (0) 20 7469 0930

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU which is part of domestic UK law pursuant to The Market
Abuse (Amendment) (EU Exit) Regulations 2019 (SI 2019/310).

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