12 Nov 2020 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO UNITED STATES NEWS WIRE SERVICES OR IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE UNITED STATES OF AMERICA OR SOUTH AFRICA OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
For Immediate Release | 12 November 2020 |
Bermele Plc
("Bermele" or the "Company")
Convertible Loan Agreement
Bermele is pleased to announce that it 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 the lower of 0.6 pence per share; or a 40% discount to the price per share of the consideration (or placing) shares issued pursuant to the acquisition of East Imperial Pte Ltd. ("Conversion").
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. The reverse takeover continues to make good progress and the acquisition remains conditional, inter alia, on consent from the UK Listing Authority for the readmission of the combined entity to the Standard List.
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 |