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:
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Jade Road
Investments Limited
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+44 (0) 778 531
5588
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John Croft
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WH Ireland
Limited - Nominated Adviser
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+44 (0) 20 7220
1666
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James Joyce
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Andrew de Andrade
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Lionsgate
Communications - Communications Adviser
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+44 (0) 779 189
2509
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Jonathan Charles
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