REG - Ocean Harvest Tech. - Suspension of Shares

Ocean Harvest TechnologyAnnouncement

21/05/2025 07:00

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RNS Number : 4963J  Ocean Harvest Technology Group PLC  21 May 2025

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NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

Ocean Harvest Technology Group plc

 

("OHT" or the "Company")

 Suspension of shares

 

Ocean Harvest Technology Group Plc (AIM: OHT), a leading researcher, developer
and supplier of proprietary blended seaweed products as functional additives
for the global animal feed industry, gives an update further to the
announcement of 9 May 2025 (the "Previous Announcement").

As described in the Previous Announcement, funding for the Company has most
recently been provided through the issue of secured loan notes (the "Loan
Notes") to certain shareholders (the "Noteholders").

The Company has received notice from Terence Butler Holdings Limited, as agent
for the Noteholders, stating that an event of default has occurred under the
terms of the Loan Notes, making a demand for the immediate redemption of all
of the outstanding Loan Notes at the principal amount together with interest
and notifying that the agent, as security trustee for the Noteholders, is
enforcing rights granted to it pursuant to the security documents entered into
in conjunction with the Loan Notes (including the right to stop withdrawals
from bank accounts without its consent and to take ownership of the Group's
operating subsidiaries).

The board of directors of the Company is urgently considering the impact of
this and, in view of the fundamental uncertainty over the Company's financial
position and prospects, has requested that trading in the Company's shares on
AIM be suspended with effect from 7:30am today.

The Company will provide a further update in due course.

 

For more information please contact:

 Ocean Harvest Technology Group plc                                   Tel: +44 (0) 1737 735018

 Ashley Head, Executive Chairman

 Chris Scott, CFO

 Cavendish Capital Markets Ltd (Nominated Adviser and Sole Broker)    Tel: +44 020 7220 0500
 Geoff Nash / Seamus Fricker / Trisyia Jamaludin (Corporate Finance)

 Tim Redfern / Harriet Ward (Corporate Broking)

 

Notes to Editors

 

Ocean Harvest Technology Group plc is a global leader in the development and
commercialisation of value adding proprietary products from blending multiple
species of seaweed. The Company provides a range of natural additives focused
on improving animal performance and the sustainability of the feed chain,
through its unique and proven proprietary seaweed blends. The Company sources
its seaweed globally, utilising sustainable and socially responsible
harvesting of largely wild blooming seaweed species.  Its products are
produced in its facility in Vietnam and sold into the $40bn animal feed
additive sector in multiple markets across the world.

 

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