Crystal Amber Fund Limited Conversion of loan notes in Morphic - Replacement

RNS Number : 1597T

Crystal Amber Fund Limited

13 January 2025

 

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: [phone]

www.crystalamber.com

 

Allenby Capital Limited - Nominated Adviser

Jeremy Porter/ Daniel Dearden-Williams Tel: [phone]

 

Winterflood Investment Trusts - Broker

Neil Langford

Tel: [phone]

 

Crystal Amber Advisers (UK) LLP - Investment Adviser

Richard Bernstein Tel: [phone]

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

CONGPUBGGUPAGRW