Last checked at 30 Sep 2022 15:12
30 September 2022
i-nexus Global plc
("i-nexus", the "Company" or the "Group")
Extension of Redemption Date of Convertible Loan Notes
i-nexus Global plc (AIM: INX), a leading provider of cloud-based strategy software solutions designed for the Global 5000, announces that the Company has agreed with the holders of the £1.325 million of Fixed Rate Unsecured Convertible Redeemable Loan Notes issued on 4 November 2020 ("Convertible Loan Notes") to extend the final redemption date from 4 November 2023 to 4 November 2024 by way of passing a written resolution. Other than the final redemption date, the terms of the Convertible Loan Notes, a summary of which were announced by the Company on 19 October 2020, remain unchanged.
Richard Cunningham is a Director of the Company and its Non-Executive Chairman, whilst Herald Investment Management Limited ("Herald") is a "Substantial Shareholder" for the purposes of the AIM Rules. Richard Cunningham holds Convertible Loan Notes with an aggregate par value of £250,000 and Herald holds Convertible Loan Notes with an aggregate par value of £750,000. Accordingly, the extension of the term of the Convertible Loan Notes constitutes a related party transaction under Rule 13 of the AIM Rules.
The Directors other than Richard Cunningham consider, having consulted with Singer Capital Markets, the Company's Nominated Adviser, that the amended terms of the Convertible Loan Notes are fair and reasonable in so far as Shareholders in the Company are concerned.
For further information please contact:
i-nexus Global plc Simon Crowther, CEO Drew Whibley, CFO
| Via: Alma PR |
Singer Capital Markets (Nominated Adviser and Broker) Sandy Fraser / Alaina Wong (Corporate Finance) Tom Salvesen (Corporate Broking)
| Tel: +44 (0)207 496 3000 |
Alma PR Caroline Forde | Tel: +44 (0)203 405 0205 |
About i-nexus Global plc
i-nexus Global plc ("i-nexus") helps organisations achieve their goals. Whether executing a strategy, driving operational excellence and continuous performance improvement, or coordinating portfolios and programs to transform results, i-nexus strategy execution software underpins success.
Today, we support organisations in managing over 200,000 strategic programmes around the world.
i-nexus transforms how organisations plan, execute, and track goals. We inspire the confidence to leave behind the spreadsheets, presentations and reports those organisations rely on, replacing it with a cloud-based, collaborative solution.