RNS 201411 Jan 2016 22:27
· Funding for more than 20 owned-IP and co-production projects over the next two years
· Up to US$50 million raised (minimum US$35 million) with a coupon of 13 per cent. per annum (payable in cash and bonds)
· 5 years maturity with early redemption option after 3 years or, inter alia, in the absence of a liquidity event or shareholder approval for conversion
· Liquidity event (trade sale or IPO of DQE Mauritius) to take place within 3 years
· DQE to be cancelled from trading on AIM and merged with DQE Mauritius as soon as possible prior to or as part of a liquidity event (trade sale or IPO of DQE Mauritius)
· Convertible upon a liquidity event, 30 days before maturity or in event of default
· The principal amount is convertible into up to 56.5 per cent. of DQE Mauritius
· Warrants over 24 per cent. of DQE Mauritius become exercisable in the absence of a liquidity