Jade Road Investments Limited Bond Interest Payment Update, Proposed Fundraising (8173E)
04 July 2023 - 2:45AM
UK Regulatory
TIDMJADE
RNS Number : 8173E
Jade Road Investments Limited
03 July 2023
03 July 2023
RNS
JADE ROAD INVESTMENTS LIMITED
("Jade Road Investments", "JADE", the "Company" or the
"Group")
Bond Interest Payment Update and Proposed Fundraising
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, announces the following update
concerning the bond interest payment.
Whilst the Company continues its transitional phase, it is
considering its short to medium term funding requirements. In
addition to the proceeds arising from the potential disposal of
assets comprising its legacy portfolio, the Company is considering
an equity fundraising to provide additional working capital and in
order to satisfy outstanding interest on its corporate bond. The
Company has not made the most recent interest payment owing on its
corporate bond as of 30 June 2023, and expects to do so on
completion of its fundraising efforts.
The Company has 10 business days from 30 June 2023 to pay
interest payments on the bond that are due and it currently expects
to meet this requirement or otherwise intends to seek the
forbearance of the bond holders until it raises sufficient further
finance.
The Company is managing its working capital and other than the
bond interest payment has access to sufficient resources for its
current needs until the repayment of the principal of the Bond is
due on 31 December 2023.
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
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