Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech PR

Everest Global plc (“Company”) Issue of £3.5 million of New Convertible Loan Notes

Published

on

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

Advertisement

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

Advertisement

£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

Advertisement

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

Advertisement

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech PR

MARINTEC INNOVATION CONFERENCE 2024: Charging the Future with Alternative Energy Sources

Published

on

marintec-innovation-conference-2024:-charging-the-future-with-alternative-energy-sources

HONG KONG, Nov. 26, 2024 /PRNewswire/ — Gear up for Marintec Innovation Conference 2024, the definitive maritime technology and innovation event organised by Informa Markets and SSNAME, happening on 12 – 13 December at the Shanghai Renaissance Zhongshan Park Hotel. This year’s theme, “Alternative Energy and Fuels Contribute to Low Carbon Maritime,” underscores the industry’s dedication to sustainable practices and groundbreaking advancements. 

Distinguished Speakers and Industry Experts

Prepare to be inspired by an impressive lineup of speakers from some of the most influential organisations in the maritime industry. These panels will delve into critical topics such as:

  • “Alternative Energy and Fuels Review and Outlook”: Exploring the latest developments in renewable energy sources and their integration into maritime operations.
  • “Sailing Efficiency – Shipowner’s Perspective”: Offering practical strategies for improving operational efficiency from leading shipowners.
  • “Industry Chain Support”: Highlighting the collaborative efforts across the maritime value chain to support these innovations.

Notable speakers include:

  • ABB Marine & Ports, Switzerland: Mr. Meng Desheng, Sales Director
  • Alfa Laval (Shanghai) Technologies Co Ltd, Denmark: Mr. James Le, President of Marine Division
  • China Association of the National Shipbuilding Industry, China: Mr. Li Yanqing, Secretary General
  • China Merchants Energy Shipping, China: Mr. Wu Jianyi, Technical Director
  • CSSC Shanghai Marine Energy Saving Technology Co Ltd, China: Mr. Zhang Xiaosong, Deputy Chief of R&D Department
  • CSSC Silent Electric System (Wuxi) Technology Co Ltd, China: Mr. Guo Wei, Deputy General Manager
  • DNV, Norway: Mr. Jason Liu Xiaofeng, Head of Smart Centre / Deputy Head of Technical Centre China
  • Headway Technology Group (Qingdao) Co Ltd, China: Mr. Zhang Zongkai, Project Manager of the R&D Center
  • Inmarsat Maritime, United Kingdom: Mr. William Ku, Regional Director, Asia Pacific
  • International Chamber of Shipping – ICS, United Kingdom: Mr. Guy Platten, Secretary General
  • International Windship Association – IWSA, United Kingdom: Mr. Gavin Allwright, Secretary General
  • Jotun, Norway: Mr. Christer Lorentz Øpstad (Ph.D.), Global R&D Director – Fouling Protection
  • Kongsberg Maritime, Norway: Mr. Carl Magne Rustand, Country Manager – Greater China
  • Maersk, Denmark: Mr. Karim Fahssis, Maersk Decarbonisation China Head
  • RINA Italy Classification Society (China) Co Ltd, China: Mr. Fang Peng, Head of RINA Greater China Excellence Centre
  • Trelleborg Marine Engineering (Qingdao) Co Ltd, China: Mr. Andrew Stafford, Technical Director
  • Ulstein, Norway: Mr. Kirk Du, Deputy Managing Director
  • Wikborg Rein Advokatfirma AS: Mr. Bård Bjerken, Managing Associate and Shanghai Representative

These panel discussions will provide attendees with invaluable insights and practical knowledge from leading experts, fostering a deeper understanding of the challenges and opportunities in the maritime sector.

Innovation on Display

In complement to the compelling sessions and expert speakers, the event will feature sponsors such as Bestway, Bicentric Technology, Shanghai Moury Marine Equipment, Shanghai SIBO Automation, Shanghai Tonghe Marine Equipment, Sonyo Appliances Refrigeration System, Zhenjiang Tongzhou Propeller and others showcasing their cutting-edge innovations.

A Hub for Maritime Innovation

Over and above the conference sessions, the Marintec Innovation Conference 2024 will offer numerous networking opportunities, including dedicated networking sessions and an exclusive closing dinner. These events will enable attendees to build valuable connections, exchange ideas, and forge partnerships that will drive the future of maritime technology.

Registration and Additional Information

Registration for the Marintec Innovation Conference 2024 is now open. For more information about the conference program and speakers, please visit the official conference website at www.marintecchina.com.

Call to Action

Advertisement

It is time to invest in and adopt alternative energy. By working together, we can meet the challenges and lead the industry into a sustainable, zero-carbon future. This conference is a movement towards a greener world for generations to come.

Marintec Innovation Conference Background:

Following its inaugural edition in 2017 during Marintec China, the Marintec Innovation Conference will be held in December of even-numbered years at the Shanghai Renaissance Zhongshan Park Hotel. Organised by Informa Markets and SSNAME, Marintec Innovation continues to provide a unique platform for fostering interactions on diverse findings and advancements in the maritime industry through collaboration and knowledge sharing.

Marintec Innovation’s Themes

2017: Cruise Shipbuilding at Marintec China
2018: International Marine Intelligent Energy Efficiency Technology
2020: The Fourth Industrial Revolution at Sea
2022: Defining the Path to Decarbonisation
2024: Alternative Energy and Fuels Contribute To Low-carbon Maritime

Organisers of Marintec China:

Marintec China is organised and managed by Informa Markets and Shanghai Society of Naval Architects & Marine Engineers (SSNAME).

Informa Markets

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com

Shanghai Society of Naval Architects and Marine Engineers (SSNAME)

Advertisement

Shanghai Society of Naval Architecture and Marine Engineers (SSNAME), founded in early 1951, is the first scientific and technological society in the field of shipbuilding and marine engineering of the People’s Republic of China. SSNAME currently has 5,000 individual members and more than 60 group members. It has 5 working Committees, 11 Specialized Committees and 3 Representative offices. As an important non-governmental scientific and technological society with high reputation and influence in the international field of shipbuilding and marine engineering, SSNAME has been committed to promoting the progress of shipbuilding and marine engineering technology and international exchanges and cooperation. SSNAME has established closely cooperative relations with 14 well-known   overseas maritime engineering societies, such as SNAME, RINA, STG, JSNAOE, SNAK and so on. It is the initiator and first chairman of the Pan-Asian Association of Maritime Engineering Societies (PAAMES) and is also a member of the International Standing Committee of the World Maritime Technology Conference (WMTC). The “Xin Yixin Ship and Marine Engineering Science and Technology Innovation Award” founded by SSNAME has become an important award for scientific and technological talents. SSNAME organizes many academic exchanges, popular science and scientific and technological publication every year. For more information, please visit www.ssname.com.cn.

Photo – https://mma.prnewswire.com/media/2566310/image_5000873_10739490.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/marintec-innovation-conference-2024-charging-the-future-with-alternative-energy-sources-302316104.html

Continue Reading

Fintech PR

Tabono Capital Announces Strategic Partnership with Invesco to Deliver Enhanced Investment Solutions for UHNW Clients

Published

on

tabono-capital-announces-strategic-partnership-with-invesco-to-deliver-enhanced-investment-solutions-for-uhnw-clients

SINGAPORE, Nov. 26, 2024 /PRNewswire/ — Tabono Capital today has announced a strategic partnership with Invesco that enhances investment solutions for ultra-high-net-worth clients.

Tabono Capital, a multi-family office based in Singapore, collaborates with Invesco, a global investment management leader with over US$1.7 trillion in assets under management. This partnership merges Invesco’s institutional-grade investment expertise, cutting-edge portfolio solutions, and comprehensive research capabilities with Tabono Capital’s strong relationships with ultra-high-net-worth (UHNW) families across the Asia Pacific and Middle East regions.

This collaboration enables Tabono Capital’s clients to benefit from the extensive resources and scale of Invesco’s capabilities. For Invesco, the partnership provides enhanced access to sophisticated investors in key growth markets.

Key elements of the partnership include:

  • Implementation and construction of model portfolios and asset allocation frameworks
  • Access to institutional-grade investment research and comprehensive market insights for UHNW clients
  • Knowledge sharing and collaboration on market intelligence and investor insights

Nirish Unni, CEO & Co-Founder of Tabono Capital, emphasized the significance of the partnership: “This partnership represents a significant milestone in our growth strategy. By leveraging Invesco’s world-class investment research and asset allocation capabilities, we can provide our clients with institutional-grade investment solutions while maintaining the personalized service they expect from a boutique multi-family office.”

Santosh Rao, Co-Founder and Chief Revenue Officer of Tabono Capital, added: “Our clients increasingly seek institutional-quality investment solutions with global reach. This collaboration with Invesco allows us to deliver exactly that, while maintaining our personalised approach to client service. Together, we will create portfolios designed to capture opportunities in key global markets while effectively managing risk.”

Christopher Hamilton, Asia Pacific Head of Client Solutions for Invesco, stated: “We’re proud to partner with Tabono Capital to bring our industry-leading offerings and capabilities to Asia’s expanding family office and UHNW segment. This is a compelling platform for investors to access comprehensive strategies that can help them meet their financial goals.”

About Tabono Capital

Advertisement

Tabono Capital is a multi-family office headquartered in Singapore, licensed by the Monetary Authority of Singapore (MAS) to provide Fund Management services. Co-founded by industry veterans and former private wealth managers Nirish Unni and Santosh Rao, the firm caters to ultra-high-net-worth families across the Asia Pacific and MENA regions, offering comprehensive wealth management and family office solutions. For more information, visit https://tabonocapital.com

Contact: [email protected]

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. With offices in more than 20 countries, our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. For more information, visit www.invesco.com/corporate.

Logo: https://mma.prnewswire.com/media/2566576/Tabono_Capital_Logo.jpg

 

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/tabono-capital-announces-strategic-partnership-with-invesco-to-deliver-enhanced-investment-solutions-for-uhnw-clients-302315388.html

Continue Reading

Fintech PR

Protecht launches advanced controls management solution

Published

on

protecht-launches-advanced-controls-management-solution

SYDNEY, Nov. 25, 2024 /PRNewswire/ — Protecht Group, a global leader in enterprise risk management solutions, has released its innovative controls management solution. This cutting-edge tool empowers organizations to design, implement, and maintain a robust controls framework, streamlining compliance and enhancing operational efficiency.

Protecht’s controls management solution addresses the challenges faced by risk and compliance leaders in managing controls across complex regulatory environments. By integrating controls management into the organization’s broader ERM framework, the solution provides a centralized approach to mitigate risks, achieve compliance, and enable organizations to focus on strategic growth.

As organizations face increasing regulatory pressures, the need for a unified, efficient approach to controls management has never been greater. Many businesses struggle with fragmented processes, duplicated efforts across frameworks, and limited visibility into controls effectiveness. Protecht’s controls management solution simplifies these complexities by providing a single source of truth for controls assurance activities.

Key features of Protecht’s controls management solution

  • Centralized controls library: Offers a single repository for all control data, tailored to align with organizational needs and regulatory frameworks.
  • Simplified control testing: Streamlines the testing process with pre-built templates, automated scheduling, and real-time tracking of progress and results.
  • Framework library: Enables seamless mapping between controls and multiple regulatory standards to eliminate redundancies and simplify compliance efforts.
  • Advanced reporting and dashboards: Provides real-time insights into control effectiveness and areas requiring improvement, ensuring confidence in decision-making and risk management strategies.

“Protecht’s Controls Management solution simplifies the way organizations handle compliance and risk assurance,” says Damien Stevens, Chief Product & Marketing Officer at Protecht. “By integrating controls into the broader enterprise risk framework, we provide our customers with the tools they need to mitigate risks, optimize efficiency, and align their control environments with their strategic objectives.”

Supporting resources

To help organizations maximize the benefits of the new solution, Protecht offers a range of resources, including:

  • Live webinars showcasing the solution’s capabilities for risk and IT professionals alike
  • Product tours showing how the solution lets you solve specific controls-related problems
  • A comprehensive eBook on building effective controls frameworks
  • Opportunities to book a demo and see the solution in action

Find out more and download a brochure at www.protechtgroup.com/solutions/controls-management

About Protecht Group

Headquartered in Sydney, Australia, with offices in London and Los Angeles, Protecht Group provides innovative risk management solutions, including the Protecht ERM platform. Trusted by organizations across government, financial services, education, and other industries, Protecht empowers businesses to manage risk holistically, transitioning from spreadsheets and manual processes to efficient, integrated systems.

Logo – https://mma.prnewswire.com/media/2566213/Protecht_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/protecht-launches-advanced-controls-management-solution-302315104.html

Advertisement
Continue Reading

Trending