REG - Honye Financial Svcs - Statement re Fundraising Update

Honye Financial ServicesAnnouncement

04/04/2025 11:30

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RNS Number : 7344D  Honye Financial Services Ltd  04 April 2025

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4 April 2025

 

Honye Financial Services Ltd

 (the "Company" or "Honye")

Fundraising Update

 

Honye Financial Services Ltd is pleased to announce that it has today executed
a convertible loan note instrument constituting up to £1,500,000 (the
"Convertible Loan Notes" or "CLNs" or "Notes"). The CLNs, to the extent drawn
down, provide the Company with additional working capital, specifically to
facilitate completion of the reverse takeover transaction with the Zoyo Group
("RTO").

The Convertible Loan Notes have a term of three years and attract interest at
a rate of 6% per annum, which is calculated by reference to the principal
amount outstanding of the Notes from time to time and shall be rolled up and
paid on the earlier to occur of (i) the conversion of any Notes; and (ii) the
date on which the Notes, together with all accrued interest and any
outstanding sums, becomes due and payable by the Borrower, being the 36-month
anniversary of the date on which the relevant certificate is issued in respect
of each respective tranche, unless previously redeemed, converted, or
cancelled, in accordance with terms of the CLN (the "Maturity Date"). The
Notes are capable of being converted in part of in full, at the option of the
noteholders, at any time after the completion of an RTO by the Company and
prior to the Maturity Date, at a price per conversion share equal to the issue
price of consideration shares upon the completion of the RTO ("Conversion
Price").  If not repaid, redeemed or converted by the Maturity Date, the CLNs
are repayable in cash in full together with accrued interest on that date.

As of today, the first tranche of £500,000 of the issued Convertible Loan
Notes have been subscribed by Ms Gu Qian, who is an Ultra High Net Worth
individual based in Asia. The Company is following up with Tang Investment
No.1 Limited and Mr Abdullah Alnuwaysir in relation to their previously
announced investments into the Company and will provide an update on this in
the coming days.

 

Liu Yu Xing, the Executive Director, commented

"This investment from Ms Gu underscores her commitment, confidence, and strong
support for the ongoing RTO, reflecting a shared belief in the strategic
vision and future success of our Company. The Company appreciates this
demonstration of confidence in our collective efforts and look forward to
achieving significant milestones together."

Shaun Wootton, the Non-executive Chairman, commented:

"I would like to thank the convertible loan note subscriber for her support.
We look forward to providing further updates on our RTO progress in due
course"

 

-Ends-

Further information:

 

 Honye Financial Services Ltd  shaun@rosellecapital.com

 Shaun Carew-Wootton

 

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