REG - Jade Road Investmnts - Further tranche of convertible loan notes

Jade Road InvestmentsAnnouncement

25/09/2024 07:00

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RNS Number : 5130F  Jade Road Investments Limited  25 September 2024

25 September 2024

JADE ROAD INVESTMENTS LIMITED

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

Further tranche of convertible loan notes

Further to its announcement on 18 September 2024 in relation to the
constitution of £1,000,000 in principal value of convertible loan notes
(CLN), Jade Road Investments Limited (AIM: JADE) is pleased to announce that
today it has agreed with two of its current directors (Stuart Crocker and Hugh
Trenchard) and Dr Lee George Lam that each of them will waive outstanding
director fees due and payable to them by the Company in consideration for the
issue to them instead of a corresponding value of CLN.  Jade has therefore
issued a further £86,920 in aggregate principal value of CLN to those
directors. As of today, £166,920 in aggregate principal value of CLN has been
issued by the Company (including the £80,000 in principal value of CLN issued
to MBM).

The Company has carried out this transaction to clean up the Company's balance
sheet and to manage the Company's working capital position which remains
tight. The director independent of the transaction, being Executive Chairman
John Croft considers, having consulted with Zeus Capital Limited, the
Companies nominated adviser, that the terms of the transactions are fair and
reasonable insofar as its shareholders are concerned.

Further announcements will be released to update on further tranches of the
CLN being issued as well as updates on target investment opportunities.

For further information, please contact:

 

Jade Road Investments Limited

 

+44 (0) 778 531 5588

John Croft

 

Zeus Capital Limited - Nominated Adviser

 

+44 (0) 203 829 5000

James Joyce

 

Hybridan LLP - Nominated Broker

 

+44 (0) 20 3764 2341

Claire Louise Noyce

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the
publication of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain

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