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Golden Rock Global PLC completed a fundraising on 5 December 2022 by issuing convertible loan notes. The notes were issued to Wei Chen, a director, for aggregate gross proceeds of £100,000. These unsecured notes carry a 12% coupon, have a conversion price of 3.125p per share, and mature on 1 December 2023.
| Date | 5 Dec 2022 |
| Time | 07:00:04 |
| Category | Capital structure |
| ID | 5187I |
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.
RNS Announcement
5 December 2022
Golden Rock Global PLC
Completion of Fundraising
Golden Rock Global PLC (LSE: GCG) ("GRG") is pleased to announce completion of its recent fundraising by way of the issue of convertible loan notes ("Loan Notes") to Wei Chen, a director, for aggregate gross proceeds of £100,000.
The Loan Notes are unsecured, pay a coupon of 12%, have a conversion price of 3.125p per share and maturity date of 1 December 2023 ("Maturity Date"). All accrued interest will be settled in cash.
Conversion is conditional on re-admission of the Company's entire issued share capital to the standard listing segment of the Official List maintained by the Financial Conduct Authority ("FCA") and to trading on the Main Market of the London Stock Exchange plc pursuant to the reverse takeover (as defined in rule 5.6.4 of the Listing Rules of the FCA) of BOLT GLOBAL. As announced on 18 October 2022, discussions with BOLT GLOBAL have taken longer than anticipated although your Board still believes that these discussions are progressing well and is confident that terms will be finalised and a prospectus published in Q1 2023. Should the Loan Notes not be converted, the principal amount of the Loan Notes plus all accrued interest will be repaid on the Maturity Date.
On behalf of the board of directors, I thank the shareholders for their continued support.
Enquiries
Golden Rock Global PLC
Ross Andrews, Chairman
+44 (0) 1534 733 401