8 Mar 2021 16:00
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For Immediate Release | 8 March 2021 |
Bermele Plc
("Bermele" or "the Company")
Convertible Loan Agreement
Bermele has entered into a Convertible Loan Agreement for £100,000 ("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 0.6 pence per share.
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. Preparations for the publication of a prospectus and admission of the enlarged group to trading on the London Stock Exchange are well advanced.
The transaction remains conditional, inter alia, on consent from the Financial Conduct Authority for the re-admission of the enlarged share capital to the Official List (by way of Standard Listing under Chapter 14 of the Listing Rules).
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries:
Bermele Plc Toby Hayward
| +44 (0) 20 3475 9760 info@bermele.com |
Novum Securities Limited Colin Rowbury
| +44 (0) 20 7399 9400 |