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GCG Golden Rock Global Plc

3.05
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Golden Rock Global Plc LSE:GCG London Ordinary Share JE00BYZT0R68 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 3.05 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 172k -166k -0.0072 -4.24 700.74k

Golden Rock Global PLC Extension of Debt facility (6780W)

13/12/2023 12:54pm

UK Regulatory


Golden Rock Global (LSE:GCG)
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RNS Number : 6780W

Golden Rock Global PLC

13 December 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN.

13 December 2023,

Golden Rock Global PLC

Extension of Debt Facility

Golden Rock Global PLC (LSE:GCG) ("GRG") announces the extension of the terms of existing convertible loan notes ("Loan Notes").

On 5 December 2022, GRG issued Loan Notes to Wei Chen, a director, for aggregate gross proceeds of GBP100,000. The Loan Notes were unsecured, pay a coupon of 12%, and had a conversion price of 3.125p per share and a maturity date of 1 December 2023 ("Maturity Date"). During the period interest has accrued and not been paid.

At the time the Loan Notes were issued GCG was negotiating a transaction with a third party which would constitute a reverse takeover ("RTO") (as defined in rule 5.6.4 of the Listing Rules of the Financial Conduct Authority ("FCA"). Conversion of the Loan Notes were conditional on re-admission of the Company's entire issued share capital to the standard listing segment of the Official List by the Financial Conduct Authority and to trading of the Main Market of the London Stock Exchange plc. These negotiations subsequently ceased, the suspension to trading was lifted and GCG raised further funds as announced on 20 July 2023. As announced on 17 August 2023, GCG is currently in negotiations to acquire 2mee Limited, which would also constitute an RTO. This transaction is progressing in accordance with management's expectations.

The Board is carefully managing the Company's cash position but is unable to repay the Loan Notes. Wei Chen has agreed with the Company to extend the maturity date of the Loan notes to 30 June 2024 with all other conditions remaining the same. No fee has been paid as a consequence of the extension.

Further Information:

Ross Andrews

Chairman, Golden Rock Global

Email: ross.andrews@rmaconsultancy.co.uk

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 rns@lseg.com or visit www.rns.com.

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END

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(END) Dow Jones Newswires

December 13, 2023 07:54 ET (12:54 GMT)

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