Last checked at 3 Jul 2023 17:45
03 July 2023
RNS
JADE ROAD INVESTMENTS LIMITED
("Jade Road Investments", "JADE", the "Company" or the "Group")
Bond Interest Payment Update and Proposed Fundraising
Jade Road Investments Limited (AIM: JADE), the London quoted investment company that looks to provide investors exposure to alternative investments which aim to offer higher returns and lower risk than traditional asset classes, announces the following update concerning the bond interest payment.
Whilst the Company continues its transitional phase, it is considering its short to medium term funding requirements. In addition to the proceeds arising from the potential disposal of assets comprising its legacy portfolio, the Company is considering an equity fundraising to provide additional working capital and in order to satisfy outstanding interest on its corporate bond. The Company has not made the most recent interest payment owing on its corporate bond as of 30 June 2023, and expects to do so on completion of its fundraising efforts.
The Company has 10 business days from 30 June 2023 to pay interest payments on the bond that are due and it currently expects to meet this requirement or otherwise intends to seek the forbearance of the bond holders until it raises sufficient further finance.
The Company is managing its working capital and other than the bond interest payment has access to sufficient resources for its current needs until the repayment of the principal of the Bond is due on 31 December 2023.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jade Road Investments Limited | +44 (0) 778 531 5588 |
John Croft | |
WH Ireland Limited - Nominated Adviser | +44 (0) 20 7220 1666 |
James Joyce | |
Andrew de Andrade | |
Hybridan LLP - Corporate Broker | +44 (0) 203 764 2341 |
Claire Noyce | |
Lionsgate Communications - Communications Adviser | +44 (0) 779 189 2509 |
Jonathan Charles |