REG - Jade Road Investmnts - 2023 AGM Voting Results

Jade Road InvestmentsAnnouncement

01/05/2024 16:30

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RNS Number : 8866M  Jade Road Investments Limited  01 May 2024

1 May 2024

JADE ROAD INVESTMENTS LIMITED

("Jade Road Investments", "JADE", the "Company" or the "Group")

2023 AGM Voting Results

 

Jade Road Investments Limited is pleased to announce that, at the Company's
2023 Annual General Meeting held today, Wednesday, the 1(st) of May 2024, all
resolutions put to shareholders were duly passed.

Therefore, in accordance with Resolution 5 (authority to sell Legacy Assets)
and the terms of the Hive Down Agreement:

·      the Company will proceed to transfer the Legacy Assets to
Eastern;

·      Eastern will issue and allot shares to the Company's shareholders
by way of the In Specie Dividend;

·      the Jade Loan Notes, which have US$3,620,000 of principal value
outstanding, will be retired;

·      the New Loan Notes, representing US$3,620,000 of principal value
will be issued by Eastern to the Noteholders to replace the Jade Loan Notes;

·      the Noteholders will be granted 1,800,000 three-year warrants by
the Company with a strike price of 2.75p; and

·      Eastern will appoint a new board of directors independent of the
Company and engage an independent investment manager to manage the Legacy
Assets.

Capitalised terms used in this announcement have the same meaning given to
them in the Company's announcement dated 8 April 2024, except where the
context otherwise requires.

Further information on the voting results will be available on the website:
https://jaderoadinvestments.com/investors/documents

FOR FURTHER INFORMATION, PLEASE CONTACT:

 Jade Road Investments Limited                      +44 (0) 778 531 5588
 John Croft

 WH Ireland Limited - Nominated Adviser             +44 (0) 20 7220 1666
 James Joyce
 Andrew de Andrade

 Lionsgate Communications - Communications Adviser  +44 (0) 779 189 2509
 Jonathan Charles

 

 

 

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