TIDMFPP

RNS Number : 9770G

Fragrant Prosperity Holdings Ltd

29 July 2021

For immediate release 29 July 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

Fragrant Prosperity Holdings Limited

("FPP" or the "Company")

Repayment of Convertible Loan Note & Issue of New Convertible Loan Note

Fragrant Prosperity Holdings Limited (the "Company"), announces it has repaid in full the Company's current outstanding Convertible Loan Note ("CLN") being GBP310,000 of notes plus interest thereon and also issued a new convertible loan note totalling GBP400,000.

Repayment of CLN

The Company has elected to repay the full amount of the principle of GBP310,000 to the note holder along with the accrued interest of GBP23,890. Following this full repayment there remains no balance outstanding on the existing CLN which were convertible at a price of 2 pence per share in the Company.

Issue of Convertible Loan Notes

The Company has created a new convertible loan note instrument and issued GBP400,000 of convertible loan notes ("Notes") under this instrument and existing instruments. Notes will carry an interest rate of 5% per annum, which is to be rolled up and added to principal quarterly until the earlier of conversion or repayment of the relevant Notes. The Notes are repayable at the option of the Company at any time after 3 months following issue. The Notes are repayable as a bullet payment at the end of the term. GBP245,000 of the Notes are repayable on 5 June 2022 and the remaining GBP155,000 are repayable on 29 July 2022. The Notes can be converted into ordinary shares of the Company ("Shares") at an average price of 3p by a noteholder at any time on notice provided that the Company is able to issue the relevant Shares under the Prospectus Regulation. Pursuant to the new convertible loan note subscription agreement the Company provided a number of warranties and undertakings in respect of the Company.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement this information is considered to be in the public domain.

ENDS

For more information: http://www.fragrantprosperityholdings.com/

 
 Fragrant Prosperity Holdings 
  Limited 
 Simon Retter/Craig Marshak      +44 (0) 20 3137 1902

FPP Broker: Optiva Securities

   Vishal Balasingham                                                       +44 (0) 20 3137 1903

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCDKCBQPBKDPOB

(END) Dow Jones Newswires

July 29, 2021 11:48 ET (15:48 GMT)

Fragrant Prosperity (LSE:FPP)
Graphique Historique de l'Action
De Jan 2025 à Fév 2025 Plus de graphiques de la Bourse Fragrant Prosperity
Fragrant Prosperity (LSE:FPP)
Graphique Historique de l'Action
De Fév 2024 à Fév 2025 Plus de graphiques de la Bourse Fragrant Prosperity