Second Completion - Secured Convertible Loan Notes

East Imperial PLC

07 November 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

7 November 2023

East Imperial plc (the "Company")

Second Completion - 10% Secured Convertible Loan Notes ("2025 Convertible Loan Notes")

East Imperial, the global purveyor of ultra-premium beverages, is pleased to announce that further to the issue of £1,466,666.67 of 2025 Convertible Loan Notes to INL Investment Limited on 14 August 2023 ("First Completion") and the announcement on 17 July 2023, the Company has now issued a further £733,333.33 of 2025 Convertible Loan Notes under the second tranche of the investment ("Second Completion").

The Company has also granted INL Investment Limited security over the Company's wholly owned Singapore incorporated subsidiary and Tony Burt, the Company's chief executive officer, has granted a charge over 47,645,448 ordinary shares of £0.01 each in the capital of the Company held by him representing 14.1 per cent. of the issued share capital.

INL Investment Limited has the right to convert the 2025 Convertible Loan Notes, including the rolled-up 10% interest thereon, into ordinary shares of £0.01 each in the Capital of the Company ("Ordinary Shares") at a price equal to a 20% discount to the 60 day VWAP of the Ordinary Shares as at the date of the conversion notice, subject to a minimum price per Ordinary Share of £0.01 (being the nominal value of the Ordinary Shares) (the "Conversion Price"), at any time after the expiry of the 12 month period commencing on the date of the instrument constituting the 2025 Convertible Loan Notes ("Convertible Loan Note Instrument") until the redemption of the 2025 Convertible Loan Notes in accordance with the terms of the Convertible Loan Note Instrument. The maturity date of the 2025 Convertible Loan Notes is the first business day falling twenty-four months after the date of issue of the relevant 2025 Convertible Loan Notes.

No application will be made for the admission of the 2025 Convertible Loan Notes to trading on any recognised securities exchange.

As announced on 17 July 2023, the 2025 Convertible Loan Notes will provide additional working capital to support the Company's plans for continued expansion.

Enquiries:

Anthony Burt / Andrew Robertson - [e-mail]

1.	Details of the person discharging managerial responsibilities/ person closely associated
a)	Name	Tony Burt
2.	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	East Imperial plc
b)	LEI	213800OI98RNUFC3IG61
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1 pence
	Identification code	ISIN: GB00BMZ1ND56
b)	Nature of the transaction	Charge over 47,645,448 ordinary shares held by Tony Burt
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 47,645,448
d)	Aggregated information ·      Aggregated volume	47,645,448
	·      Price	N/A
e)	Date of the transaction	6 November 2023
f)	Place of the transaction	Outside a trading venue

 

END