Jade Road Investments Limited Update on Interest Payment to Bondholders (2429G)

TIDMJADE

RNS Number : 2429G

Jade Road Investments Limited

17 July 2023

JADE ROAD INVESTMENTS LIMITED

("Jade Road Investments", "JADE", the "Company" or the "Group ")

Following the Company's announcement on 3 July 2023, JADE announces the following update concerning the interest payment to the holders of bonds ("Bondholders") constituted by a bond instrument dated 20 October 2019 as amended by a supplemental instrument dated 1 December 2022 ("Bonds").

Further to discussions with all Bondholders, the Company has received formal consent of the Bondholders to:

(1) waive the acceleration of the Bonds arising as a result of the Company's non-payment of interest to the Bondholders by Friday 14 July 2023; and

(2) change the interest payment terms of the Bonds as follows:

a) interest will accrue on the Bonds from 1 July 2023 until 14 August 2023 at a rate of 18% per annum; and

b) should the interest payment not be made by 14 August 2023, then interest will continue to accrue at a rate of 18% per annum until the date on which payment is made.

Formal consent has been obtained from all bondholders and the agreement is conditional only on signing of the bond trustee. The Company will make a further announcement once this has been obtained.

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

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END

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July 17, 2023 06:37 ET (10:37 GMT)

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