RE: Steady as a rock this morning11 Dec 2024 13:35
And news on this could come at anytime,
Also dated 24th November
Non-Binding Terms: Unsecured Convertible Loan Note Facility
· The lender to provide a facility up to, £3,000,000
· Maturity shall be the earlier of a published FCA approved prospectus or 12-months from engagement
· Coupon of 12% shall be applied, and rolled-up on engagement of the facility
· Subject to certain provisions being met by the borrower, the lender shall make a maximum of £500,000 available per quarter until the publication of a FCA approved prospectus. Upon such publication the borrower shall have the right to draw on the balance in full
· The lender shall have the right to close the facility at their election
· The borrower is not obligated to draw down on the proposed facility and can elect to do so from the point of engagement to the earlier of each quarter, maturity or the publication of an FCA approved prospectus