12
April 2024
East Imperial
plc
("East Imperial" or the
"Company")
Corporate
Update
East Imperial plc, the global
purveyor of super-premium beverages, has today received a
Redemption Notice from INL Investment Limited ("INL") issued in
connection with a Convertible Note Instrument dated 7 August 2023
(the 'Loan Notes') and a Deed of Share Charge dated 16 October
2023, first announced on 17 July 2023. Under the terms of the
Redemption Notice, INL seeks immediate redemption of its Loan Notes
totalling £2.2million, together with all interest due under the
Loan Notes.
The Company is unable to meet this
redemption liability and therefore the board is now in discussions
with professional advisors in connection the Company's possible
administration or liquidation, and with the FCA regarding the
potential suspension of trading of the Company's shares on the Main
Market of the London Stock Exchange.
The board will update shareholders
on the Company's financial position as soon as possible.
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 ("MAR"). Upon
the publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
For
further information, please contact:
|
East Imperial plc
Anthony Burt
|
investors@eastimperial.com
|
|
Allenby Capital Limited (Broker)
Guy McDougall / Matt Butlin (Sales
and Corporate Broking)
Jeremy Porter / Piers Shimwell
(Corporate Finance)
|
+44 (0)20 3328 5656
|
About East Imperial
Founded in New Zealand and Singapore
in 2012, East Imperial produces a range of super-premium mixers
that sell throughout APAC, the US and EMEA. Guided by a clear
strategy to capitalise on the growing demand for premiumisation
across the beverage industry, East Imperial has sold over 33
million bottles in over 20 countries since its founding, with
popular products including Old World Tonic Water, Grapefruit Tonic
Water, Yuzu Tonic Water and Mombasa Ginger Beer. In 2023, East
Imperial won 8 medals at the coveted Tonic & Mixers Masters
Competition in London.
The Company was founded on the
philosophy of creating exquisite products defined by heritage,
tradition, and authenticity. All products are made from the highest
quality, all-natural ingredients, reflecting East Imperial's
commitment to providing a sustainable product and minimising
environmental impacts at every stage of the manufacturing process.
For more information about East Imperial and its ultra-premium
mixers.
Visit https://www.eastimperial.com/