02 October 2023

Everest Global plc

(“Company”)

Extension of Convertible Loan Note redemption date

 

The directors of the Company are pleased to announce that on 29 September 2023, Golden Nice International Group Limited (a company wholly owned by Mr Ziwei Peng), being the holder of the outstanding Convertible Loan Notes (“CLN’s”) in the Company, agreed to extend the redemption date by 18 months from 30 September 2023 to 31 March 2025.

 

As at today’s date, excluding any accrued interest, £254,450 of CLNs remain outstanding pursuant to convertible loan note deeds, further details of which are set out in the table below:

 

Convertible Loan Note Issue	Date of Instrument		Number of Convertible Loan Notes outstanding	Old Redemption Date/ New Redemption Date	Conversion Price
£250,000 unsecured convertible loan notes of £0.05 each	1 October 2018 (as amended on 5 October 2020 and on 29 July 2022)	£162,500	3,250,000	30 September 2023/ 31 March 2025	£0.05 per Ordinary Share
£750,000 unsecured convertible loan notes of £0.05 each	31 March 2021 (as amended on 29 July 2022 and 24 January 2023)	£91,950	1,839,000	30 September 2023/ 31 March 2025	£0.05 per Ordinary Share
Total:		£254,450	5,089,000

 

On conversion of each CLN, the holder of the CLN will receive two corresponding warrants to subscribe for a new ordinary share of £0.02 each in the Company, one at 5p and the other at 10p exercisable on 31 December 2025 and 31 December 2026 respectively.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

 

The directors of the Company accept responsibility for the content of this announcement.

For further information please contact:

Everest Global plc
Andy Sui, Chief Executive Officer Rob Scott, Non-Executive Director	+44 (0) 776 775 1787 +27 (0)84 6006 001
Cairn Financial Advisers LLP
Jo Turner / Emily Staples	+44 (0) 20 7213 0885 / +44 (0)20 7213 0897