East Imperial PLC Second Completion - Secured Convertible Loan Notes (5629S)
07 November 2023 - 6:00PM
UK Regulatory
TIDMEISB
RNS Number : 5629S
East Imperial PLC
07 November 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH
IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
7 November 2023
East Imperial plc (the "Company")
Second Completion - 10% Secured Convertible Loan Notes ("2025
Convertible Loan Notes")
East Imperial, the global purveyor of ultra-premium beverages,
is pleased to announce that further to the issue of GBP1,466,666.67
of 2025 Convertible Loan Notes to INL Investment Limited on 14
August 2023 ("First Completion") and the announcement on 17 July
2023, the Company has now issued a further GBP733,333.33 of 2025
Convertible Loan Notes under the second tranche of the investment
("Second Completion").
The Company has also granted INL Investment Limited security
over the Company's wholly owned Singapore incorporated subsidiary
and Tony Burt, the Company's chief executive officer, has granted a
charge over 47,645,448 ordinary shares of GBP0.01 each in the
capital of the Company held by him representing 14.1 per cent. of
the issued share capital.
INL Investment Limited has the right to convert the 2025
Convertible Loan Notes, including the rolled-up 10% interest
thereon, into ordinary shares of GBP0.01 each in the Capital of the
Company ("Ordinary Shares") at a price equal to a 20% discount to
the 60 day VWAP of the Ordinary Shares as at the date of the
conversion notice, subject to a minimum price per Ordinary Share of
GBP0.01 (being the nominal value of the Ordinary Shares) (the
"Conversion Price"), at any time after the expiry of the 12 month
period commencing on the date of the instrument constituting the
2025 Convertible Loan Notes ("Convertible Loan Note Instrument")
until the redemption of the 2025 Convertible Loan Notes in
accordance with the terms of the Convertible Loan Note Instrument.
The maturity date of the 2025 Convertible Loan Notes is the first
business day falling twenty-four months after the date of issue of
the relevant 2025 Convertible Loan Notes.
No application will be made for the admission of the 2025
Convertible Loan Notes to trading on any recognised securities
exchange.
As announced on 17 July 2023, the 2025 Convertible Loan Notes
will provide additional working capital to support the Company's
plans for continued expansion.
Enquiries:
Anthony Burt / Andrew Robertson - investors@eastimperial.com
1. Details of the person discharging managerial responsibilities/
person closely associated
------------------------------------------------------------------------
a) Name Tony Burt
---- -------------------------- --------------------------------------------
2. Reason for the notification
---- ------------------------------------------------------------------------
a) Position/status Chief Executive Officer
---- -------------------------- --------------------------------------------
b) Initial notification/ Initial notification
Amendment
---- -------------------------- --------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ------------------------------------------------------------------------
a) Name East Imperial plc
---- -------------------------- --------------------------------------------
b) LEI 213800OI98RNUFC3IG61
---- -------------------------- --------------------------------------------
4. Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; (iv) each place where transactions have been conducted
---- ------------------------------------------------------------------------
a) Description of Ordinary shares of 1 pence
the financial
instrument, type
of instrument
Identification ISIN: GB00BMZ1ND56
code
---- -------------------------- --------------------------------------------
b) Nature of the Charge over 47,645,448 ordinary shares held
transaction by Tony Burt
---- -------------------------- --------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) -----------
N/A 47,645,448
---------- -----------
---- -------------------------- --------------------------------------------
Aggregated information
d) * Aggregated volume 47,645,448
N/A
* Price
------------------------------- --------------------------------------------
e) Date of the transaction 6 November 2023
---- -------------------------- --------------------------------------------
f) Place of the Outside a trading venue
transaction
---- -------------------------- --------------------------------------------
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END
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