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Jade Road Investments Limited announced on 20 February 2023 the launch of its conditional Equity Fundraise. The Company reported that $183,427 in gross proceeds were raised by the Placing Agent, which reduced the Underwriter's initial $1,750,000 commitment to $1,566,573 at a price of £0.0075 per share. The Equity Fundraise is conditional on the approval of resolutions at the General Meeting held on 20 February 2023.
| Date | 20 Feb 2023 |
| Time | 07:00:04 |
| Category | Capital structure |
| ID | 3608Q |
20 February 2023
RNS
JADE ROAD INVESTMENTS LIMITED
("Jade Road" or the "Company")
Completion of Conditional Equity Fundraise
Following the Company's announcement on 31 January 2023, and as set out in more detail in the Circular to shareholders dated 31 January 2023, the Company is pleased to report that it has launched its Equity Fundraise. The Company is further pleased to report that $183,427 in gross proceeds have been raised by the Placing Agent on behalf of the Company ("Placing Proceeds").
The Equity Fundraise is conditionally underwritten in its entirety by the Underwriter. Following the results of the Placing and the terms of the Underwriting Agreement, the Underwriter's commitment of $1,750,000 has been reduced by the Placing Proceeds to $1,566,573 at a price of £0.0075 per share. The Equity Fundraise is conditional on all the resolutions being approved at the General Meeting on Monday 20 February 2023.
A further announcement will be made following the conclusion of the General Meeting on Monday 20 February 2023. Capitalised terms used in this announcement have the meanings ascribed to them in the announcement of 31 January 2023.
FOR FURTHER INFORMATION, PLEASE CONTACT:
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Jade Road Investment Limited |
+44 (0) 778 531 5588 |
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John Croft |
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Hybridan LLP - Corporate Broker |
+44 (0)203 764 2341 |
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Claire Noyce |
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WH Ireland Limited - Nominated Adviser |
+44 (0) 20 7220 1666 |
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James Joyce |
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Andrew de Andrade |
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Lionsgate Communications - Communications Adviser |
+44 (0) 779 189 2509 |
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Jonathan Charles |
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This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.