URU Metals Limited Existing Convertible Loan Note Amendment (3258X)
04 May 2021 - 4:00PM
UK Regulatory
TIDMURU
RNS Number : 3258X
URU Metals Limited
04 May 2021
04 May 2021
URU Metals Limited
("URU" or "the Company")
Existing Convertible Loan Note Amendment
URU is pleased to announce that the Company has agreed to extend
the notice period relating to the Convertible Loan Note (the "Loan
Note") as first announced on 6 May 2020 for a further 29 days with
effect from 1 May 2021. All other terms related to the Loan Note
remain the same. The key terms of the Loan Note are as follows:
(i) a voluntary conversion price triggered on the noteholder
serving a conversion notice (being GBP0.85 per share for a period
of 90 days from the date of the Loan Note; and following expiry of
the 90 day period, a 35 per cent. discount to the Volume Weighted
Average Price ("VWAP") per share in the 5 trading days prior to the
noteholder serving a conversion notice); Now amended to a further
360 days.
(ii) on a fundraising, a 35 per cent. discount to the price per
share paid by investors on the fund raising;
(iii) on a share sale (meaning a sale of Ordinary Shares giving
control of the Company, whether for cash and/or by way of exchange
for shares in another company and/or for other consideration, and
whether or not control of the Company changes as a result of such
transaction), a 35 per cent. discount to the price per share paid
on the share sale; or
(iv) if there is no conversion notice served, fund raising or
share sale prior to the maturity date, at a 35 percent. discount to
the VWAP per share in the 5 trading days prior to the maturity
date.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer)
+1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat / Charlie Bouverat
+ 44 (0) 203 470 0470
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCUPUBWAUPGGWW
(END) Dow Jones Newswires
May 04, 2021 02:00 ET (06:00 GMT)
Uru Metals (LSE:URU)
Historical Stock Chart
From Apr 2024 to May 2024
Uru Metals (LSE:URU)
Historical Stock Chart
From May 2023 to May 2024