A non-material typographical change has been
made to the 'Conversion of loan notes in Morphic Medical Inc.'
announcement released on 13 January 2025 at 7.00 am under RNS No
0557T. The change is identified with an asterisk (*). The full
amended text is shown below.
13 January 2025
CRYSTAL AMBER FUND LIMITED
("Crystal Amber Fund" or the "Fund")
Conversion of loan notes in Morphic
Medical Inc. - Replacement
Crystal Amber Fund (AIM: CRS) announces that further
to its announcement of 3 December 2024, the Board of Morphic
Medical Inc. ("Morphic" or
"Morphic Medical") has
approved the conversion of the Fund's entire interest in
convertible loan notes in Morphic, totalling US$25.4 million and accrued interest of US$3.0 million, into
194,358,367 common shares in Morphic (the "Conversion"). The new common shares in
Morphic will be issued following approval of Morphic shareholders
at a general meeting and the necessary amendments to Morphic's
Articles of Incorporation. The Fund currently owns 95.3 per cent.
of the issued share capital of Morphic.
The Notes were converted at a range of share values,
ranging from US$0.088 to US$0.48 per share pursuant to the terms of
the respective individual loan agreements, with an average weighted
conversion price of US$0.146 per share.
Following the Conversion, the Fund
will own an aggregate of 389,891,219* common shares and preference
shares in Morphic, equivalent to 97.6 per cent of Morphic's share
capital as enlarged by the issue of the Conversion shares. A
further announcement will be made once the necessary approvals have
been given and the new shares issued.
Contacts:
Crystal Amber Fund
Limited Chris Waldron (Chairman) Tel: 01481 742 742
www.crystalamber.com
Allenby Capital
Limited - Nominated Adviser
Jeremy Porter/ Daniel Dearden-Williams Tel: 020 3328
5656
Winterflood
Investment Trusts - Broker
Neil Langford
Tel: 020 3100 0160
Crystal Amber
Advisers (UK) LLP - Investment Adviser
Richard Bernstein Tel: 020 7478 9080