REG - East Imperial PLC - Second Completion - Secured Convertible Loan Notes

East ImperialAnnouncement

07/11/2023 07:00

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RNS Number : 5629S  East Imperial PLC  07 November 2023

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.

 

7 November 2023

 

East Imperial plc (the "Company")

 

Second Completion - 10% Secured Convertible Loan Notes ("2025 Convertible Loan
Notes")

 

East Imperial, the global purveyor of ultra-premium beverages, is pleased to
announce that further to the issue of £1,466,666.67 of 2025 Convertible Loan
Notes to INL Investment Limited on 14 August 2023 ("First Completion") and the
announcement on 17 July 2023, the Company has now issued a further
£733,333.33 of 2025 Convertible Loan Notes under the second tranche of the
investment ("Second Completion").

 

The Company has also granted INL Investment Limited security over the
Company's wholly owned Singapore incorporated subsidiary and Tony Burt, the
Company's chief executive officer, has granted a charge over 47,645,448
ordinary shares of £0.01 each in the capital of the Company held by him
representing 14.1 per cent. of the issued share capital.

 

INL Investment Limited has the right to convert the 2025 Convertible Loan
Notes, including the rolled-up 10% interest thereon, into ordinary shares of
£0.01 each in the Capital of the Company ("Ordinary Shares") at a price equal
to a 20% discount to the 60 day VWAP of the Ordinary Shares as at the date of
the conversion notice, subject to a minimum price per Ordinary Share of £0.01
(being the nominal value of the Ordinary Shares) (the "Conversion Price"), at
any time after the expiry of the 12 month period commencing on the date of the
instrument constituting the 2025 Convertible Loan Notes ("Convertible Loan
Note Instrument") until the redemption of the 2025 Convertible Loan Notes in
accordance with the terms of the Convertible Loan Note Instrument. The
maturity date of the 2025 Convertible Loan Notes is the first business day
falling twenty-four months after the date of issue of the relevant 2025
Convertible Loan Notes.

 

No application will be made for the admission of the 2025 Convertible Loan
Notes to trading on any recognised securities exchange.

 

As announced on 17 July 2023, the 2025 Convertible Loan Notes will provide
additional working capital to support the Company's plans for continued
expansion.

 

Enquiries:

Anthony Burt / Andrew Robertson - investors@eastimperial.com
(mailto:investors@eastimperial.com)

 

 

 1.  Details of the person discharging managerial responsibilities/ person closely
     associated
 a)  Name                                                         Tony Burt
 2.  Reason for the notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/ Amendment                              Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         East Imperial plc
 b)  LEI                                                          213800OI98RNUFC3IG61
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; (iv) each place
     where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of 1 pence
     Identification code                                          ISIN: GB00BMZ1ND56
 b)  Nature of the transaction                                    Charge over 47,645,448 ordinary shares held by Tony Burt
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  N/A       47,645,448

 
 d)  Aggregated information

     ·      Aggregated volume

                                                                  47,645,448
     ·      Price                                                 N/A
 e)  Date of the transaction                                      6 November 2023
 f)  Place of the transaction                                     Outside a trading venue

 

d)

Aggregated information

·      Aggregated volume

 

 

47,645,448

·      Price

N/A

e)

Date of the transaction

6 November 2023

f)

Place of the transaction

Outside a trading venue

 

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