CRUSHMETRIC Group Limited Issue of Convertible Bond (4530U)
28 Marzo 2023 - 9:48AM
UK Regulatory
TIDMCUSH
RNS Number : 4530U
CRUSHMETRIC Group Limited
28 March 2023
28 March 2023
CRUSHMETRIC GROUP LIMITED
("CRUSHMETRIC" or "the Company")
Issue of Convertible Bond
CRUSHMETRIC Group Limited announces that it has entered into an
unsecured convertible bond agreement (the "Bond") with Future
Vision Pte. Ltd (the "Investor"). The Investor subscribed in cash
for the Bond for a principal amount of SGD$250,000 (approximately
GBP150,820) (the "Principal Amount"). The Investor has an option to
top up the Principal Amount at anytime within three months from the
date of issue. The Coupon will be at 10% and calculated on an
annualised basis.
The Bond, at the election of the Investor, may be converted into
ordinary shares (the "Underlying Shares") or redeemable according
to the term sheet that is summarised below.
The proceeds of SGD$250,000 from the issue of the Bond will be
used for general working capital purposes.
Convertible Bond principle terms:
Instrument and The Bond, when convertible into the
Underlying Shares: Underlying Shares, will rank pari passu
with all outstanding ordinary shares
of the Company.
Maturity Date: 23rd February 2026.
Coupon: Ten percent (10%) per annum which shall
be payable by the Company annually
in arrears after receipt of the Principal
Amount.
Conversion Price: The Bond shall be convertible into
the Underlying Shares at a Conversion
Price of GBP 0.2 per share where 50%
of the Bond can be converted within
the first year and the rest can be
converted on the Maturity Date.
Redemption: At Maturity, if not already converted
into the Underlying Shares.
Redemption Price: Unless previously redeemed, converted,
or purchased and cancelled, the Company
will redeem the Bond at its Principal
Amount together with any accrued and
unpaid interest thereon on the Maturity
Date.
The Directors of the Company accept responsibility for the
contents of this announcement.
For further information, please contact:-
CRUSHMETRIC Group Limited
ONG Ban Poh Michael - Chief Executive Officer Tel: +852 2110 4221
Lilian Lo - Acting Chief Financial Officer
AQSE Growth Market Corporate Adviser Tel: +44 (0) 20 7469 0930
PETERHOUSE CAPITAL LIMITED
Guy Miller
Mark Anwyl
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END
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