Loan Extension and Waiver

Silverwood Brands PLC

13 October 2023

 

13 October 2023

Silverwood Brands Plc

("Silverwood" or the "Company")

Loan Extension and Waiver

Silverwood Brands plc (AQSE: SLWD), a holding company established to invest primarily in branded consumer businesses, announces that the Company has entered into an amendment and waiver agreement  ("Agreement") with Castelnau Group Limited ("Castelnau"), in relation to the unsecured loan facility of approximately £4.4 million ("Loan") entered into by the Company and Castelnau on 12 October 2022.

Specifically, the Company and Castelnau have agreed to extend the repayment date for the Loan to 12 April 2024 and Castelnau has agreed to waive its right to treat the  continued suspension of trading in the Company's shares, which commenced on 2 October 2023, as an Event of Default under the terms of the Loan, provided that trading in the Company's shares has resumed before 12 April 2024.

As Andrew Gerrie is a non-executive director of Phoenix Asset Management Partners, the manager of Castelnau, the Agreement is deemed to be a related party transaction pursuant to Rule 4.6 of the Aquis Growth Market Access Rulebook. The Company's directors (excluding Andrew Gerrie, who is indirectly interested in this transaction) having exercised reasonable care, skill and diligence, consider that the Agreement is fair and reasonable insofar as the shareholders of the Company are concerned.

Silverwood Brands Plc Andrew Gerrie Paul Hodgins	[e-mail]
Peterhouse Capital Limited (Aquis Corporate Adviser) Mark Anwyl Narisha Ragoonanthun Brefo Gyasi	[phone]

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).

 

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