REG - Jade Road Investmnts - Bond Interest Payment Update, Proposed Fundraising

Jade Road InvestmentsAnnouncement

03/07/2023 17:45

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RNS Number : 8173E  Jade Road Investments Limited  03 July 2023

03 July 2023

RNS

 

JADE ROAD INVESTMENTS LIMITED

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

Bond Interest Payment Update and Proposed Fundraising

 

Jade Road Investments Limited (AIM: JADE), the London quoted investment
company that looks to provide investors exposure to alternative investments
which aim to offer higher returns and lower risk than traditional asset
classes, announces the following update concerning the bond interest payment.

Whilst the Company continues its transitional phase, it is considering its
short to medium term funding requirements.  In addition to the proceeds
arising from the potential disposal of assets comprising its legacy portfolio,
the Company is considering an equity fundraising to provide additional working
capital and in order to satisfy outstanding interest on its corporate bond.
The Company has not made the most recent interest payment owing on its
corporate bond as of 30 June 2023, and expects to do so on completion of its
fundraising efforts.

The Company has 10 business days from 30 June 2023 to pay interest payments on
the bond that are due and it currently expects to meet this requirement or
otherwise intends to seek the forbearance of the bond holders until it raises
sufficient further finance.

The Company is managing its working capital and other than the bond interest
payment has access to sufficient resources for its current needs until the
repayment of the principal of the Bond is due on 31 December 2023.

 

 

 

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

 Hybridan LLP - Corporate Broker                    +44 (0) 203 764 2341
 Claire Noyce

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

 

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