Globe Capital Limited Corporate, Board & Appointment of Corporate Advisor

 
TIDMGCAP 
 
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO 
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION 
(EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS 
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE 
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 
 
                             Globe Capital Limited 
 
                      ("Globe Capital" or the "Company") 
 
                                  AQSE: GCAP 
 
      Corporate Update, Board Changes & Appointment of Corporate Advisor 
 
Particulars of the RIS 
 
 1. Corporate Update 
 2. Board Changes 
 3. Appointment of Corporate Advisor 
 4. Director Statement 
 
 1. Corporate Update 
 
The Company's ordinary shares were suspended earlier this year due to 
complications that arose with the issuer's Depositary Interest function 
lapsing. During the subsequent months, the Board of Directors entered 
commercial discussions with various parties to develop a recapitalisation and 
corporate restructure strategy in order for the Company to progress, 
meaningfully. 
 
During this period the Company has entered discussions with creditors of the 
Company in efforts to rationalise the Company's balance sheet and expect to 
conclude these discussions in the coming weeks. 
 
To this end, the two incoming Directors, Mr Burns Singh Tennent-Bhohi & Mr 
Simon Grant-Rennick have agreed to advance the Company £100,000 under a 
convertible loan note ("CLN") to accelerate the recapitalisation and 
restructure (for which monies have been advanced to date as the Company 
continues to be actively recapitalised and restructured). The CLN shall be 
unsecured, bear no interest and mature upon the three year anniversary for 
which it was issued and be convertible at a price of £0.0004, requiring the 
consent of shareholders in approving amongst other resolutions the issue of 
equity. 
 
The CLN will convert into ordinary shares of the Company, immediately on 
approval of the Annual General Meeting resolutions , for which posting will be 
announced in the coming weeks. Upon conversion of the CLN, the holders shall be 
granted 250,000,000 warrants to subscribe for new ordinary shares with a strike 
price of £0.0008 and a life to expiry of 5-years from date of grant. 
 
The newly constituted Board expect to undertake further capital raising 
activities in the near future and to present the newly formed corporate 
strategy at the upcoming Annual General Meeting for the Company that the 
Directors intend to post in the coming weeks. 
 
 1. Board Changes 
 
The Board would like to welcome the appointments of, Mr Burns Singh 
Tennent-Bhohi (Executive Director) & Mr Simon Grant-Rennick (Executive 
Chairman) both of whom have led this recapitalisation and restructure with the 
Board of Globe. 
 
In conjunction with their appointments Mr Darren Edmonston will become a 
Non-Executive Director and Mr David Barnett will retire his role from the Board 
of Directors effective immediately. 
 
The Board would like to extend their well wishes to David and thank him for his 
services. 
 
Burns Singh Tennent-Bhohi (Executive Director) 
 
Burns Singh Tennent-Bhohi is the founder & CEO of The Glenpani Group, an 
international private venture capital business based in London/UK. Glenpani's 
principal focus is the evaluation and augmentation of distressed-asset 
opportunities and private-transaction/investment origination. Glenpani Group 
cornerstone-invest, originate transactions and provide corporate consultancy to 
international companies both private and public including; AQSE, AIM, TSX-V, 
CSE & ASX. 
 
Burns assumes a number of directorships of both private and public companies 
and his current appointments in public interest companies include: Chairman of 
Oscillate plc (AQSE: MUSH), CEO and a Director of, Evrima plc (AQSE: EVA) and 
Director of Igraine plc (AQSE: KING) and have included: Forum Energy Metals 
Corp. (TSX-V: FMC), in 2019 FMC executed a $30,000,000 project earn-in 
agreement with Rio Tinto on its Janice Lake sedimentary copper project and a 
$6,000,000 project earn-in with Orano & the CEO and a Director of IamFire plc 
(AQSE: FIRE) 
 
Active in North American capital markets, Burns is also the founder of LC, a 
specialised private investment vehicle that syndicates and connects global 
capital investment for private transaction origination & pre-IPO opportunities. 
 
Glenpani Group maintains an extensive international network that includes 
corporate brokers/financiers, investment bankers, merchant banks, UHNWIs, 
project financiers, asset-banks and technical teams. Burns graduated from the 
University of Glasgow with a degree in Economics/Social Sciences. 
 
Current Directorships and/or          Former Directorships and/or 
Partnerships                          partnerships (within the last five 
                                      years): 
 
Evrima plc                            IamFire plc 
 
Igraine plc                           Forum Energy Metals Corp 
 
Oscillate plc                         Residential Sales (London) Ltd 
 
Eastport Ventures (Ontario) Inc. 
 
Lincoln Road Ltd 
 
Capital Homes (London) Ltd 
 
Glenpani Group Limited 
 
Glenpani Capital Limited 
 
GPC 101 Ltd 
 
GPC 102 Ltd 
 
VNS Global Ltd 
 
Botsjuana Ltd 
 
Glenpani Capital Group Ltd 
 
DiscovOre Limited 
 
Loncad Limited 
 
Tomas Capital Limited 
 
DVYH196 Ltd 
 
Loncad Holdings Ltd 
H2Gogo Industries Limited 
 
 
Except as set out above, there is no further information regarding Burns Singh 
Tennent-Bhohi, that is required to be disclosed pursuant to Rule 4.9 of the 
AQSE Growth Market Access Rulebook. 
 
Simon Grant-Rennick (Executive Chairman) 
 
Simon graduated from the Camborne School of Mines (Bsc Mining Engineering 
[hons], ACSM) and has been actively involved in the mining and metal trading 
industry for over 30-years. During this time Simon has served Board & 
Management roles for both private and public (LSE, ASX, AQSE) entities 
globally. 
 
Simon has extensive experiences in the industrial and non-ferrous metal 
industry which includes a successfully operating Falconbridge Internationals 
non-ferrous trading arm. 
 
Simon maintains a number of Board & Management Roles across industries 
including; agriculture, property, technology & the mining sector, including; 
All Active Asset Capital Ltd (AIM: AAA), U.K. Spac plc (AIM: SPC), Evrima plc 
(AQSE: EVA) and was most recently the Executive Chairman of Quetzal Capital plc 
(AQSE: QTZ). 
 
Simon Richard de Clanay Grant-Rennick, aged 63, has held the following current 
and former Directorships in the past 5-years: 
 
Current Directorships and/or        Former Directorships and/or 
Partnerships                        partnerships (within the last five 
                                    years): 
 
African Tree Nuts Limited           Barnardo Capital Limited 
 
ASP Corp Ltd                        Force Commodities Ltd 
 
Elk Investments Limited             Glyncastle Resource Limited 
 
Evrima plc                          Glyncastle plc 
 
Gunmakers Hall Limited              Jacoma Estates Limited 
 
IMFH Limited                        Kardav Limited 
 
IM Performance Minerals Ltd         QX Resources Limited 
 
Langleycourt Properties Limited     Quetzal Capital plc 
 
Selection Mines Limited 
 
All Active Asset Capital Limited 
U.K. SPAC plc 
 
 
Mr Grant-Rennick was a director of Glyncastle plc (previously Unity Power plc) 
and two of its subsidiaries, Glyncastle Mining Limited (previously Horizon 
Mining Limited) and Glyncastle Resource Limited (previously Unity Mine 
Limited), when these three companies went into administration on 30 October 
2013. Statements of affairs for each of these companies dated 13 December 2013 
stated an aggregate estimated deficiency as regards creditors of £172,966,671. 
A Receiver was appointed to Glyncastle plc on 23 May 2018 and Mr Grant-Rennick 
ceased to be a director of this company on 27 January 2020. Glyncastle Mining 
Limited and Glyncastle Resource Limited both entered into Company Voluntary 
Arrangements on 7 October 2016 and Mr Grant-Rennick ceased to be a director of 
both companies on 24 January 2018. 
 
Mr Grant-Rennick was a director of Oakland Investments (UK) Limited from 30 
January 1995 until 8 August 1995. This company entered into voluntary creditors 
liquidation on 14 November 1995. 
 
Except as set out above, there is no further information regarding Simon 
Richard de Clanay Grant-Rennick, that is required to be disclosed pursuant to 
Rule 4.9 of the AQSE Growth Market Access Rulebook. 
 
 1. Appointment of Corporate Advisor 
 
The Company is pleased to announce that Peterhouse Capital Limited has been 
appointed as the Company's AQSE Growth Market Corporate Advisor and Corporate 
Broker with immediate effect. The Company wishes to thank First Sentinel for 
their many years of service to the Company. 
 
 1. Director Statement, Darren Edmonston 
 
"I would like to take this opportunity to thank all members of the Globe team 
and the AQSE Growth Market Exchange in getting the Company to a point where it 
has a new direction, the introduction of fresh capital investment and the 
appointment of two Directors that have been pivotal in driving this change at 
the Company. I am excited to progress this Company and look forward to 
providing our shareholders with further updates. 
 
I would like to also take this opportunity to thank retiring Director, David 
Barnett for his services to the Company and wish him well with his future 
endeavours." 
 
The Directors of the Company, who have issued this RIS announcement after due 
and careful enquiry, accept responsibility for its content. 
 
For further information 
 
COMPANY: 
 
Globe Capital Limited 
 
Darren Edmonston 
 
[phone] 
 
CORPORATE ADVISER: 
 
Peterhouse Capital Limited 
 
Guy Miller / Mark Anwyl 
 
Tel: [phone] 
 
 
 
END 
 
 

(END) Dow Jones Newswires

November 15, 2021 13:45 ET (18:45 GMT)