Honye Financial Services Ltd Statement re Financing
28 March 2024 - 9:20PM
RNS Regulatory News
RNS Number : 7080I
Honye Financial Services Ltd
28 March 2024
THIS
ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME
HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO
DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
28 March 2024
Honye Financial Services
Ltd
(the
"Company" or "Honye")
Financing
The Company is pleased to announce
that it has entered into a loan agreement with Tang Investment No 1
Limited (the "Lender"). The principal amount of the loan is
£275,000 (the "Loan"). The Loan is unsecured with interest accruing
on the principal at the rate of 6.25% per annum. The Loan is
capable of repayment at the Company's option and has a maturity
date of 5 April 2027. The proceeds of the Loan shall be used
to continue to fund the reverse takeover transaction announced on 9
June 2021, completion of which the Company is targeting before the
end of H1 this year ("RTO").
Further Details of the Transaction
Shaun Carew-Wootton, non-executive
Chairman of the Company, is also director and sole shareholder of
the Lender. The Loan therefore constitutes a related party
transaction for the purposes of DTR 7.3. The Directors (other than
Mr Carew-Wootton) considered and approved the terms of the
Loan.
The Company also expects the Lender
to make a material investment in the fundraising to be carried out
in connection with the RTO. The Lender is principally funded
by a consortium of private investors based in Southeast
Asia.
Chairman's
comments:
"This financial support from Tang
Investment No 1 Limited provides us with a clear path to completing
the RTO. The Company appreciate this demonstration of confidence in
our collective efforts and look forward to announcing completion of
the RTO without further significant delay."
A further announcement will be made in due
course.
-Ends-
Further information:
|
Honye Financial Services Ltd
Shaun Carew-Wootton
|
shaun@rosellecapital.com
|
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END
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