RE: Incredicble14 Nov 2023 20:52
Seems pretty clear in the RNS
Variation to GBP500,000 Loan Facility
Pursuant to its facility agreement with E3 Fund SP (the "Investor") entered into on 20 September 2022 ("Facility") and amended on 21 April 2023, the Company and the Investor are pleased to announce they have agreed to vary the terms of the Facility to enable the Subscription to proceed at a premium to the fixed repayment price of the Facility of 1.8p per share.
The Facility has been extended until 8 December 2024 and will be drawable in tranches of not less than GBP100,000 as requested by the Company or the Investor. The first drawdown will be made available to the Company following Shareholder Approval at the Company's next General Meeting to allot a further 23,809,524 new Ordinary Shares. Repayment of the Facility is to be by way of issue and allotment of new Ordinary Shares in the capital of the Company at a new fixed price equal to the Issue Price of 2.1p per share ("Facility Shares").