REG - Tekcapital plc - Loan Agreement with Innovative Eyewear Inc

TekcapitalAnnouncement

12/01/2024 16:45

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RNS Number : 5933Z  Tekcapital plc  12 January 2024

The information contained within this announcement is deemed by the Company
(Companies House registration number 08873361) to constitute inside
information as stipulated under the Market Abuse Regulations (EU) No. 596/2014
("MAR"). With the publication of this announcement via a Regulatory
Information Service ("RIS"), this inside information is now considered to be
in the public domain.

 

 

12 January 2024

Tekcapital Plc

("Tekcapital", the "Company" or "the Group")

Loan Agreement with Innovative Eyewear Inc

 

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group
focused on creating valuable products that can improve people's lives,
announces that it has entered into a loan agreement with Innovative Eyewear
Inc and Tekcapital Europe ltd, a wholly owned subsidiary of Tekcapital plc.

 

The amount of the loan is £600,000, the term of the loan is 90 days, and the
annual interest rate is 10% (the "Loan"). The Loan is unsecured and is being
used by Tekcapital to contribute towards the proposed placing and Admission to
trading on AIM of MicroSalt plc.

 

Tekcapital currently owns approximately 87% of the share capital of MicroSalt
plc and 92% of MicroSalt Inc. its U.S. subsidiary.

 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed
discoveries that can enhance people's lives and provides a range of technology
transfer services to help organisations evaluate and commercialise new
technologies. Tekcapital is quoted on the AIM market of the London Stock
Exchange (AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com (http://www.tekcapital.com) .

LEI: 213800GOJTOV19FIFZ85

For further information, please contact:

 Tekcapital Plc                                                                                                          Via Flagstaff IR
 Clifford M. Gross, Ph.D.

 SP Angel  Corporate Finance                                                                                             +44 (0) 20 3470 0470
 LLP
 (Nominated Adviser and Broker)
 Richard Morrison / Charlie Bouverat (Corporate Finance)

 Rob Rees (Corporate Broking)

 

Flagstaff Strategic and Investor
Communications
       +44 (0)207 129 1474

Tim Thompson/Andrea Seymour/Fergus Mellon

 

This press release is for informational purposes only. The information herein
does not constitute investment advice nor an offer to invest and may contain
statements related to our future business and financial performance and future
events or developments involving MicroSalt that may constitute forward-looking
statements. These statements may be identified by words such as "expect,"
"look forward to," "anticipate" "intend," "plan," "believe," "seek,"
"estimate," "will," "project" or words of similar meaning. We may also make
forward-looking statements in other reports, in presentations, in material
delivered to customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking statements.
Such statements may be based on the current expectations and certain
assumptions of Tekcapital's management. Please note that these are subject to
a number of risks, uncertainties and factors, including, but not limited to
those described in various disclosures. Should one or more of these risks or
uncertainties materialize or should underlying expectations not occur or
assumptions prove incorrect, actual results, performance or achievements of
Tekcapital may vary materially from those described explicitly or implicitly
in the relevant forward-looking statement. Tekcapital does not intend, nor
assumes any obligation, to update or revise these forward-looking statements
in light of developments which differ from those anticipated.

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