RNS Number : 8866M
Jade Road Investments Limited
01 May 2024
 

1 May 2024

JADE ROAD INVESTMENTS LIMITED

("Jade Road Investments", "JADE", the "Company" or the "Group")

2023 AGM Voting Results

 

Jade Road Investments Limited is pleased to announce that, at the Company's 2023 Annual General Meeting held today, Wednesday, the 1st of May 2024, all resolutions put to shareholders were duly passed.

Therefore, in accordance with Resolution 5 (authority to sell Legacy Assets) and the terms of the Hive Down Agreement:

·      the Company will proceed to transfer the Legacy Assets to Eastern;

·      Eastern will issue and allot shares to the Company's shareholders by way of the In Specie Dividend;

·      the Jade Loan Notes, which have US$3,620,000 of principal value outstanding, will be retired;

·      the New Loan Notes, representing US$3,620,000 of principal value will be issued by Eastern to the Noteholders to replace the Jade Loan Notes;

·      the Noteholders will be granted 1,800,000 three-year warrants by the Company with a strike price of 2.75p; and

·      Eastern will appoint a new board of directors independent of the Company and engage an independent investment manager to manage the Legacy Assets.

Capitalised terms used in this announcement have the same meaning given to them in the Company's announcement dated 8 April 2024, except where the context otherwise requires.

Further information on the voting results will be available on the website: https://jaderoadinvestments.com/investors/documents

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




Lionsgate Communications - Communications Adviser

+44 (0) 779 189 2509

Jonathan Charles


 

 

 

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
 
 
AGMSSLFIFELSEEI