REG-Everest Global Plc: Extension of Convertible Loan Note redemption date

Everest GlobalAnnouncement

02/10/2023 07:15

 

02 October 2023

Everest Global plc

(“Company”)

Extension of Convertible Loan Note redemption date

 

The directors of the Company are pleased to announce that on 29 September
2023, Golden Nice International Group Limited (a company wholly owned by Mr
Ziwei Peng), being the holder of the outstanding Convertible Loan Notes
(“CLN’s”) in the Company, agreed to extend the redemption date by 18
months from 30 September 2023 to 31 March 2025.

 

As at today’s date, excluding any accrued interest, £254,450 of CLNs remain
outstanding pursuant to convertible loan note deeds, further details of which
are set out in the table below:

 

 Convertible Loan Note Issue                                Date of Instrument                                                            Number of Convertible Loan Notes outstanding  Old Redemption Date/ New Redemption Date  Conversion Price           
 £250,000 unsecured convertible loan notes of £0.05 each    1 October 2018 (as amended on 5 October 2020 and on 29 July 2022)  £162,500   3,250,000                                     30 September 2023/ 31 March 2025          £0.05 per Ordinary Share   
 £750,000 unsecured convertible loan notes of £0.05 each    31 March 2021 (as amended on 29 July 2022 and 24 January 2023)     £91,950    1,839,000                                     30 September 2023/ 31 March 2025          £0.05 per Ordinary Share   
 Total:                                                                                                                        £254,450   5,089,000                                                                                                          
                                                                                                                                                                                                                                                             

 

On conversion of each CLN, the holder of the CLN will receive two
corresponding warrants to subscribe for a new ordinary share of £0.02 each in
the Company, one at 5p and the other at 10p exercisable on 31 December 2025
and 31 December 2026 respectively.

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018).

 

The directors of the Company accept responsibility for the content of this
announcement.

For further information please contact:

 Everest Global plc                                                                                               
                                                                                                                  
 Andy Sui, Chief Executive Officer Rob Scott, Non-Executive Director  +44 (0) 776 775 1787 +27 (0)84 6006 001     
                                                                                                                  
 Cairn Financial Advisers LLP                                                                                     
 Jo Turner / Emily Staples                                            +44 (0) 20 7213 0885 / +44 (0)20 7213 0897  
                                                                                                                  

 

 



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