Crushmetric Group Ld: Issue of Convertible Bond

CRUSHMETRIC

28/03/2023 08:48

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RNS Number : 4530U  CRUSHMETRIC Group Limited  28 March 2023

28 March 2023

 

 

CRUSHMETRIC GROUP LIMITED

("CRUSHMETRIC" or "the Company")

 

Issue of Convertible Bond

 

CRUSHMETRIC Group Limited announces that it has entered into an unsecured
convertible bond agreement (the "Bond") with Future Vision Pte. Ltd (the
"Investor"). The Investor subscribed in cash for the Bond for a principal
amount of SGD$250,000 (approximately £150,820) (the "Principal Amount").
The Investor has an option to top up the Principal Amount at anytime within
three months from the date of issue. The Coupon will be at 10% and calculated
on an annualised basis.

 

The Bond, at the election of the Investor, may be converted into ordinary
shares (the "Underlying Shares") or redeemable according to the term sheet
that is summarised below.

 

The proceeds of SGD$250,000 from the issue of the Bond will be used for
general working capital purposes.

 

Convertible Bond principle terms:

 

 Instrument and       The Bond, when convertible into the Underlying Shares, will rank pari

                    passu with all outstanding ordinary shares of the Company.
 Underlying Shares:

 Maturity Date:       23rd February 2026.

 Coupon:              Ten percent (10%) per annum which shall be payable by the Company annually in
                      arrears after receipt of the Principal Amount.

 Conversion Price:    The Bond shall be convertible into the Underlying Shares at a Conversion
                      Price of GBP 0.2 per share where 50% of the Bond can be converted within the
                      first year and the rest can be converted on the Maturity Date.

 Redemption:          At Maturity, if not already converted into the Underlying Shares.

 Redemption Price:    Unless previously redeemed, converted, or purchased and cancelled, the Company
                      will redeem the Bond at its Principal Amount together with any accrued and
                      unpaid interest thereon on the Maturity Date.

The Directors of the Company accept responsibility for the contents of this
announcement.

 

For further information, please contact:-

 CRUSHMETRIC Group Limited

 ONG Ban Poh Michael - Chief Executive Officer   Tel: +852 2110 4221

 Lilian Lo - Acting Chief Financial Officer

 AQSE Growth Market Corporate Adviser            Tel: +44 (0) 20 7469 0930

 PETERHOUSE CAPITAL LIMITED

 Guy Miller

 Mark Anwyl

 

 

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