REG - Jade Road Investmnts - Second Supplemental Bond Instrument Update

Jade Road InvestmentsAnnouncement

26/07/2023 14:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230726:nRSZ3017Ha&default-theme=true

RNS Number : 3017H  Jade Road Investments Limited  26 July 2023

26 July 2023

RNS

 

JADE ROAD INVESTMENTS LIMITED

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

Second Supplemental Bond Instrument Update

 

Following the announcement on 17 July 2023, 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
that Law Debenture Corporation p.l.c, the trustee to the outstanding Bonds,
and the Company have consented to a new supplemental deed, which has been duly
executed.

The supplemental deed secures the waiver of the Bondholders' right to
accelerate the USD 10,000,000 12.5% fixed secured bond instrument which was
issued on 20 October 2019 as amended by a supplemental instrument dated 1
December 2022 ("Bond Instrument") and the interest rate change to 18 per cent
as further set out below.

 

The Bondholders have waived their acceleration rights resulting from the
Company's non-payment of interest due on Friday 14 July 2023.  75% of the
nominal value of the Bondholders have, by way of special resolutions in the
form of resolutions in writing, approved (i) the waiver referred to above,
(ii) the change to the interest payment terms of the Bonds as follows:

a)   interest will accrue on the Bonds from 1 July 2023 until 14 August 2023
at a rate of 18% per annum; and

b)   should the interest payment not be made by 14 August 2023, then
interest will continue to accrue at a rate of 18% per annum until the date on
which payment is made; and

 (iii) the new supplemental deed, and have authorised the Company to execute
it.

 

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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCNKABKNBKDCOB