Digitalbox Regulatory News (DBOX)

9 November 2018

POLEMOS PLC

(AIM: PLMO)

Convertible Loan Note Issue

Polemos plc ("Polemos" or "the Company"), is pleased to announce a conditional Placing (the "Placing") of £220,000 via Convertible Unsecured Loan Notes ("CLNs") by the Company's broker, Peterhouse Capital.

 The CLNs have a term of 3 months and no coupon.

The issue of the CLNs is conditional on the Company completing a Reverse Takeover and on the Admission of the enlarged ordinary share capital to trading on a Recognised Investment Exchange. When issued, the CLNs will have a conversion price of 25% discount to the price on Re-admission.

The net proceeds of this Placing, combined with the Company's current cash resources and after meeting previously undisclosed liabilities that came to light after the appointment of the current directors, satisfy its commitment as part of the agreed terms with Digitalbox Publishing Holdings Limited ("DBPH") to have a minimum cash balance of £500,000k (before transaction costs) immediately before completion of the proposed Reverse Takeover ("RTO") with DBPH.

Significant progress on the transaction has been made and the Company's is working towards a readmission early in the New Year. It has been agreed with DBPH to extend the exclusivity period in relation to the proposed RTO to 31 January 2019.

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