TIDMBERM

RNS Number : 0433F

Bermele PLC

12 November 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO UNITED STATES NEWS WIRE SERVICES OR IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE UNITED STATES OF AMERICA OR SOUTH AFRICA OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

 
For Immediate Release  12 November 2020 
 

Bermele Plc

("Bermele" or the "Company")

Convertible Loan Agreement

Bermele is pleased to announce that it has entered into a Convertible Loan Agreement for GBP100,000 ("Loan") with a private investor. The Loan, which is for a fixed term of 12 months and carries no interest, is repayable or convertible at the Lender's discretion into new Ordinary Shares in the Company at the lower of 0.6 pence per share; or a 40% discount to the price per share of the consideration (or placing) shares issued pursuant to the acquisition of East Imperial Pte Ltd. ("Conversion").

The proceeds from the Loan are to be used for working capital pending completion of the potential acquisition of East Imperial Pte. Ltd as announced by the Company on 20 July 2020. The reverse takeover continues to make good progress and the acquisition remains conditional, inter alia, on consent from the UK Listing Authority for the readmission of the combined entity to the Standard List.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries:

 
Bermele Plc                +44 (0) 20 3475 9760 
 Toby Hayward               info@bermele.com 
Novum Securities Limited 
 Colin Rowbury             +44 (0) 20 7399 9400 
 

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November 12, 2020 02:00 ET (07:00 GMT)

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