RE: Still revenue generating7 Jun 2024 18:52
The intention of INL is pretty transparent and, a simple use of AI indicates the following:
"INL Investment Limited has the right to call in the 2025 Convertible Loan Notes issued to East Imperial PLC after the expiry of a **12-month period** commencing on the date of the instrument constituting the 2025 Convertible Loan Notes. This means they can convert the loan notes, including the rolled-up 10% interest, into ordinary shares at any time after this 12-month period until the redemption of the notes in accordance with the terms of the Convertible Loan Note Instrument. The maturity date of these notes is the first business day falling **twenty-four months** after the date of issue."
That reads to me, INL may have jumped the gun in terms of calling in the debt, hence why they have allegedly gone quiet. It does however help me understand their motive.
I personally expect some form of pre-pack to take place and I will not be suprised to see who is on the opposite end of that deal!
AIMHO, DYOR.