REG - i-nexus Global PLC - Extension of Redemption Date of CLNs

i-nexus GlobalAnnouncement

28/10/2024 07:00

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RNS Number : 7725J  i-nexus Global PLC  28 October 2024

28 October 2024

i-nexus Global plc

("i-nexus", the "Company" or the "Group")

 

Extension of Redemption Date of Convertible Loan Notes

 

i-nexus Global plc (AIM: INX), a leading provider of cloud-based strategy
software solutions designed for the Global 5000, announces that the Company
has agreed with the holders of the 2020 Convertible Loan Notes, 2021
Convertible Loan Notes and 2023 Convertible Loan Notes to extend the final
redemption dates for each by one year,  having passed the written
resolutions. The final redemption dates are now as follows:

 

·    2020 Convertible Loan Notes: 4 November 2026

·    2021 Convertible Loan Notes: 29 September 2026

·    2023 Convertible Loan Notes: 7 July 2026

 

Other than the final redemption date, the terms of each of the Convertible
Loan Note tranches, a summary of which were announced by the Company on 19
October 2020, 13 September 2021 and 21 June 2023 respectively, remain
unchanged.

 

Richard Cunningham, Non-Executive Chairman and Director of the Company, holds
Convertible Loan Notes with an aggregate par value of £318,000.

 

Herald Investment Management Limited, a "Substantial Shareholder" for the
purposes of the AIM Rules, holds Convertible Loan Notes with an aggregate par
value of £1,670,000. Accordingly, the extension of the term of the
Convertible Loan Notes constitutes a related party transaction under Rule 13
of the AIM Rules.

 

The Directors other than Richard Cunningham consider, having consulted
with Singer Capital Markets, the Company's Nominated Adviser, that the
amended terms of the each of the Convertible Loan Note tranches are fair and
reasonable in so far as Shareholders in the Company are concerned.

 

For further information please contact:

 

 i-nexus Global plc                                      Via: Alma Strategic Communications

 Simon Crowther, CEO

 Drew Whibley, CFO

 Singer Capital Markets (Nominated Adviser and Broker)   Tel: +44 (0)207 496 3000

 Sandy Fraser / Alex Bond (Investment Banking)

 Alma Strategic Communications                           Tel: +44 (0)203 405 0205

 Caroline Forde/ Robyn Fisher

 

About i-nexus Global plc

i-nexus Global plc ("i-nexus") helps organisations achieve their goals.
Whether executing a strategy, driving operational excellence and continuous
performance improvement, or coordinating portfolios and programs to transform
results, i-nexus strategy execution software underpins success.

 

Today, we support organisations in managing over 200,000 strategic programmes
around the world.

i-nexus transforms how organisations plan, execute, and track goals. We
inspire the confidence to leave behind the spreadsheets, presentations and
reports those organisations rely on, replacing it with a cloud-based,
collaborative solution.

 

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