Fintech PR
Everest Global plc (“Company”) Issue of £3.5 million of New Convertible Loan Notes
LONDON , Aug. 15, 2024 /PRNewswire/ — The directors of the Company are pleased to announce that on 15 August 2024 the Company constituted a loan note instrument pursuant to which the Company may issue up to £50 million loan notes in tranches of integral multiples of £250,000 at any time. Each tranche of loan notes will have an initial term of 3 years from the date of the certificate being issued to the relevant noteholder (the “Loan Note Instrument”). Pursuant to the terms of the Loan Note Instrument the Company has issued 14 unsecured convertible loan notes (“CLNs”) to Surich Real Estate Opportunity Fund SPC (“SPC” or the “Noteholder” respectively) in an aggregate value of £3.5m. The Company will update the market on receipt of the funds which are expected the week ending 23rd August 2024. SPC is wholly owned and controlled by Mr Ziwei Peng, Mr Peng is the owner and controller of Golden Nice International Group Limited, which holds a 24.55% interest in the issued share capital of the Company. Given Mr Peng’s holding in the Company, the issue of the CLNs to SPC is a related party transaction for the purposes of Rule 7.3 of the Disclosure Guidance and Transparency Rules.
The Company is issuing the CLNs to fund the Company’s working capital and capital expenditure requirements for the time being and in order to work towards executing its strategy to undertake one or more further acquisitions of businesses (either shares or assets) in the beverage distribution and production sector in the UK and the rest of Europe as set out in its prospectus dated 31 October 2023.
The material terms of the Loan Note Instruments are:
- the aggregate principal amount of the loan notes is limited to £50m and they will be issued in integral multiples of £250,000;
- the loan notes issued pursuant to the Loan Notes Instrument are unsecured;
- the term of each tranche of loan notes is 3 years from the date of the certificate of the applicable loan notes;
- they are convertible into ordinary shares of £0.02 each in the issued share capital of the Company (“Ordinary Shares”);
- the noteholder will not be able to convert loan notes in the first 12 months from the date of issue of such loan notes;
- the noteholder will not be able to convert loan notes if in any rolling 12 month period Everest has already issued 20% of its entire issued share capital, unless:
– a prospectus is published by the Company which includes a disclosure referring to the conversion of such loan notes and admission of the new Ordinary Shares to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities; and
– the issue of such new Ordinary Shares will not result in such noteholder, together with any persons acting in concert with it, holding 30 per cent. or more of the voting rights of the Company at any time; - a noteholder will not be able to convert loan notes to the extent that such noteholder, together with anyone acting in concert with them, will hold 30% or more of the voting rights in Everest, unless independent shareholders have given their approval and the Takeover Panel has waived the obligation to make an offer for the entire issued share capital of Everest;
- the noteholder may request the payment of interest on the anniversary date of the issue of the loan notes to them or request that the interest is rolled up and capitalised;
- the interest rate that will be applied to outstanding loan notes s is 6% per annum;
- the conversion price of the loan notes is a price per Ordinary Share of £0.04;
- at the end of the term of each tranche of loan notes (or such other date that the Company notifies the relevant noteholders in writing in respect of such tranche of loan notes), Everest will repay the principal amount of such tranche of loan notes not converted, plus accrued interest, by issuing new ordinary shares or cash (at the Company’s election) ; and
- the CLNs can only be transferred to a party approved by the Directors.
As at today’s date, excluding any accrued interest, £254,450 of previously issued convertible loan notes remain outstanding pursuant to convertible loan note deeds (all of which are held by Golden Nice International Group Limited, a company wholly owned by Mr Ziwei Peng), 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 and 29 September 2023) |
£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 and 29 September 2023) |
£91,950 |
1,839,000 |
30 September 2023/ 31 March 2025 |
£0.05 per Ordinary Share |
|
Total: |
£254,450 |
5,089,000 |
|||
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 |
View original content:https://www.prnewswire.co.uk/news-releases/everest-global-plc-company-issue-of-3-5-million-of-new-convertible-loan-notes-302223977.html
VILNIUS, Lithuania, Jan. 13, 2025 /PRNewswire/ — The ARMswap team is thrilled to announce the launch of its 1st version of its DeFi protocol. The web3 world is booming with numerous layer-1 and layer-2 blockchains, each having their unique algorithms and capabilities. However, their closed architecture hinders seamless interaction and information flow between networks, creating inefficiencies. ARMswap’s launch addresses this fundamental inefficiency in the current blockchain architecture and introduces a more optimized version of the multi-directional cross-chain swaps and bridges.
Simplifying Cross-Chain Transactions
“The fragmentation of blockchain networks has been a critical issue, and users were compelled to navigate through various DEXs and third-party bridges to perform a single cross-chain transaction,” notes the CTO of ARMswap. “ARMswap’s launch represents a watershed moment in addressing this fragmentation that has constrained Defi’s evolution.”
ARMswap’s architecture, validated through rigorous security audits by the leading Blockchain security firm Hashlock, combines advanced cryptographic protection for user funds. ARMswap’s protocol delivers secure and rapid swap/bridge operations, setting new industry benchmarks for transaction processing efficiency.
The platform supports 31 blockchains and their native coins in its V1 launch in Jan 2025, with plans for expansion to include more blockchains every quarter.
In V2, ARMswap will integrate with protocols like Chainlink, Axelar network, Layer zero, Wormhole, etc., to provide extensive coverage of EVM & non-EVM chains. In V3, Armswap will introduce its own framework for relayers and oracles for seamless interoperability across Web3.
ARMSP Fair Launch
ARMswap is launching its utility token, ARMSP, in Jan 2025, incentivizing liquidity providers to actively participate in the ecosystem and to share platform and pool returns with the platform participants.
ARMswap is also releasing its DeFi Mobile App (IOS & Android) in March 2025, enabling users to connect their existing wallets and perform swap transactions and participate in liquidity pools and rewards.
Limited Supply
Join the ARMswap V1 platform and participate in the ARMSP token Fair Launch on 13th Jan 2025, with a limited supply of 400 million tokens out of 1.25 billion max supplies. Early participants can enjoy bonuses and earn rewards through the ARMswap MVP program. After a 12-month vesting period, ARMSP will be listed on all major exchanges globally.
About ARMswap:
ARMswap UAB simplifies cross-chain asset transfers and brings the power of Web3 and the de-centralization of blockchains into our daily lives and businesses.
Website: www.armswap.com
For Media Inquiries:
Contact Name: Husnain Aslam
Title: Chief Technology Officer
Email: [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/armswap-launches-its-defi-platform-302347904.html
Fintech PR
Pricer and Focal Systems Announce Strategic Collaboration to Drive the Next Step in Physical Store Digitalization
Pricer, a global leader in digital shelf-edge solutions, and Focal Systems, a leader in shelf-edge AI, today announced a strategic collaboration to accelerate the digitization and optimization of the physical store for retailers worldwide.
STOCKHOLM, Jan. 13, 2025 /PRNewswire/ — This collaboration brings together Pricer’s innovations in dynamic pricing and shelf-edge communication with Focal Systems’ advanced computer vision and product availability solutions to maximize shopper satisfaction while optimizing retail operations.
As a pioneer in enabling dynamic pricing and digitizing shelf-edge shopper communication, Pricer has led the first step of the retail digitalization journey. Focal Systems has pioneered the application of computer vision to digitizing what products are available on-shelf or not in near real-time. Together, Pricer and Focal Systems will empower retailers to improve labor efficiency, reduce out-of-stocks, increase sales, and enhance shopper satisfaction like never before.
Enhancing the Shelf Edge Through Collaboration
By integrating Focal Systems’ AI-powered shelf vision cameras with Pricer’s leading electronic shelf label (ESL) platform, retailers will benefit from:
- Real-Time Shelf Insights: Automated detection and alerting of out-of-stock or low items powering rapid replenishment and increased shopper satisfaction
- Dynamic Task Automation: Streamlined workflows and prioritized tasks to improve operational efficiency for store staff.
- Patented Innovation: Camera-based out of stock detection and communication, flashing ESLs, alternate location communication.
- Seamless Integration: Standardized API connections that deliver out-of-the-box value, offering synchronized ESL flashes, messaging updates, and shelf-edge intelligence.
Together, Pricer and Focal Systems demonstrate that the combined offerings deliver measurable value for the retailers by enabling a fully digitalized shelf-edge ecosystem.
Strategic Collaboration for the Future of Retail
“We are proud to combine our leadership in ESL technology with Focal Systems’ AI-powered shelf vision,” said Chris Chalkitis, CDO at Pricer. “Both companies share a belief in the digitalization of the physical store. Pricer has been a pioneer in dynamic pricing and shelf-edge communication. With Focal Systems, we take the next step, digitizing what’s on the shelf – and what’s not – to drive greater efficiency and performance for retailers.”
Focal Systems’ AI technology transforms retail operations through real-time shelf monitoring and replenishment task optimization.
“Partnering with Pricer, a global leader with groundbreaking ESL technology and innovation, creates tremendous value for retailers,” said Kevin H. Johnson, CEO at Focal Systems. “Together, we deliver an integrated, data-driven solution that reduces operational complexity, automates workflows, and enhances the in-store experience. We look forward to demonstrating this powerful collaboration to retailers and their customers.”
Showcasing the Future at NRF 2025
The collaboration will officially debut at the National Retail Federation (NRF) Big Show in January 2025, where Pricer and Focal Systems will showcase the integrated solution at Pricer’s booth. This marks the beginning of an exciting journey to redefine the shelf edge and set new standards for retail innovation.
For further information, please contact:
Chris Chalkitis, Chief Digital Officer, +46 70 4849812
Finn Wikander, Chief Product Officer, +46 705 233077
[email protected]
About Pricer
Pricer is a leading global provider of digital shelf-edge solutions, helping retailers optimize pricing, improve operational efficiency, and enhance the customer experience. With patented innovations like camera-based product identification by ESL, Pricer continues to set the standard for dynamic, intelligent shelf-edge solutions. For more information, visit www.pricer.com.
About Focal Systems
Focal Systems is a leading provider of AI-powered computer vision solutions, helping retailers automate operations and optimize product availability through real-time shelf monitoring. Its advanced technology delivers actionable insights that drive efficiency and profitability. For more information, visit www.focal.systems.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
|
https://mb.cision.com/Main/715/4090287/3201221.pdf |
2025-01-12_Pricer_Focal_ENG |
View original content:https://www.prnewswire.co.uk/news-releases/pricer-and-focal-systems-announce-strategic-collaboration-to-drive-the-next-step-in-physical-store-digitalization-302349036.html
– Office to corporation conversion reinforces local operations heightening global competitiveness
SEOUL, South Korea, Jan. 13, 2025 /PRNewswire/ — KT&G (KRX : 033780) is establishing a corporation in Uzbekistan handing local operations for earnest market expansion and increased profitability, aiming to strengthen competitiveness in the Eurasian region.
In 2023, KT&G set up an office in Uzbekistan and entered the market with the superslim brand “ESSE”.
Through the corporation conversion of the Uzbekistan office, KT&G plans to reinforce long-term competitiveness in the Eurasian region. To increase market presence, KT&G will increase the size of the local workforce by four times, and continue to widen distribution coverage by establishing detailed operational networks.
KT&G also plans to grow “ESSE” as a major brand in the Uzbekistan market, anticipating revenue and profit growth from market expansion.
KT&G has established regional CIC’s (Company-In-Company) in Eurasia and the Asia-Pacific regions to facilitate global business expansion. KT&G currently is operating in 132 countries across the globe through six sales corporations and three branches. Going forward, KT&G will continue to expand its global corporations to support direct global operations and continue efforts to increase profitability.
A KT&G spokesperson said that “the establishment of the Uzbekistan corporation is part of the ongoing investment and innovation for the leap to a ‘Global Top-Tier.’ KT&G will continue its global growth trends by reinforcing local operations.”
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View original content:https://www.prnewswire.co.uk/news-releases/ktg-establishes-uzbekistan-corporation-strengthening-eurasian-market-competitiveness-302348712.html
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