URU Metals Limited Existing Convertible Loan Note Amendment (3689V)
06 Agosto 2020 - 4:27AM
UK Regulatory
TIDMURU
RNS Number : 3689V
URU Metals Limited
06 August 2020
6 August 2020
URU Metals Limited
("URU" or "the Company")
Existing Convertible Loan Note Amendment
URU is pleased to announce that the Company has agreed to extend
the notice period relating to the Convertible Loan Note (the "Loan
Note") as previously announced on 6 May 2020 for a further 90 days
with effect from 6 August 2020. All other terms related to the Loan
Note remain the same. The key terms of the Loan Note are as
follows:
(i) a voluntary conversion price triggered on the noteholder
serving a conversion notice (being GBP0.85 per share for a period
of 90 days from the date of the Loan Note; and following expiry of
the 90 day period, a 35 per cent. discount to the Volume Weighted
Average Price ("VWAP") per share in the 5 trading days prior to the
noteholder serving a conversion notice); Now amended to a further
90 days.
(ii) on a fund raising, a 35 per cent. discount to the price per
share paid by investors on the fund raising;
(iii) on a share sale (meaning a sale of Ordinary Shares giving
control of the Company, whether for cash and/or by way of exchange
for shares in another company and/or for other consideration, and
whether or not control of the Company changes as a result of such
transaction), a 35 per cent. discount to the price per share paid
on the share sale; or
(iv) if there is no conversion notice served, fund raising or
share sale prior to the maturity date, at a 35 percent. discount to
the VWAP per share in the 5 trading days prior to the maturity
date.
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer)
+1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat / Charlie Bouverat
+ 44 (0) 203 470 0470
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END
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