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REG - Jade Road Investmnts - Placement of shares

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RNS Number : 4997K  Jade Road Investments Limited  25 August 2023

25 August 2023

 

JADE ROAD INVESTMENTS LIMITED

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

Placement of shares

 

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, is
pleased to announce the successful placing (the "Placing") of  new ordinary
shares of £0.001 each in the capital of the Company ("Ordinary Shares").

Subscription

A total of 36,866,667 new Ordinary Shares (the "Placing Shares") have been
placed with investors at the price of 2.25 pence per Placing Share (the
"Placing Price") raising gross proceeds of $1,050,000 (£829,500).

The Placing Price represents a premium of approximately 20 per cent. to the
closing mid-price of the Company's ordinary shares on 24 August 2023 and the
Placing shares represent approximately 10.4 per cent. of the enlarged share
capital.

The Company has paid Heirloom Investment Management LLC ('HIM') a 5%
commission fee for introducing certain investors who are participating in the
placing. The payment will be $40,000 to be received in shares in the Company
at the placing price.  The commission is a related party transaction under
the Aim rules for Companies as HIM is a substantial shareholder in the
Company. The Directors of the Company consider, having consulted with WH
Ireland Limited, the Company's nominated adviser, that the terms of the
transactions are fair and reasonable insofar as its shareholders are
concerned.

John Croft, the Company's Chairman, commented: "We are delighted to welcome
some new investors onto our share register facilitating the continuation of
our new investment strategy focussed on income yielding alternative assets.
The Placing provides the Company with adequate resources to continue its new
investment program as well as meeting the interest payments due on its
corporate bond and providing adequate working capital to support its
operations in the near term."

 

Admission and Total Voting Rights

Application has been made to AIM for 36,866,667 shares to be admitted to
trading on AIM, the admission date is expected to be on or around 1 September
2023.

In accordance with the provision of the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority, the Company confirms that, following
the issue of the Placing Shares its issued ordinary share capital will
comprise 356,788,690 ordinary shares.

All of the ordinary shares have equal voting rights and 2,647,804 of the
ordinary shares are held in Treasury. The total number of voting rights in the
Company will therefore be 354,140,886. The above figure may be used by
shareholders as the denominator for the calculations to determine if they are
required to notify their interests in, or change to their interest in, the
Company.

 

 

 

 

 

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

 

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