i-nexus Global PLC Extension of Redemption Date of CLNs

RNS Number : 7725J

i-nexus Global PLC

28 October 2024

 

28 October 2024

i-nexus Global plc

("i-nexus", the "Company" or the "Group")

 

Extension of Redemption Date of Convertible Loan Notes

 

i-nexus Global plc (AIM: INX), a leading provider of cloud-based strategy software solutions designed for the Global 5000, announces that the Company has agreed with the holders of the 2020 Convertible Loan Notes, 2021 Convertible Loan Notes and 2023 Convertible Loan Notes to extend the final redemption dates for each by one year,  having passed the written resolutions. The final redemption dates are now as follows:

 

·    2020 Convertible Loan Notes: 4 November 2026

·    2021 Convertible Loan Notes: 29 September 2026

·    2023 Convertible Loan Notes: 7 July 2026

 

Other than the final redemption date, the terms of each of the Convertible Loan Note tranches, a summary of which were announced by the Company on 19 October 2020, 13 September 2021 and 21 June 2023 respectively, remain unchanged.

 

Richard Cunningham, Non-Executive Chairman and Director of the Company, holds Convertible Loan Notes with an aggregate par value of £318,000.

 

Herald Investment Management Limited, a "Substantial Shareholder" for the purposes of the AIM Rules, holds Convertible Loan Notes with an aggregate par value of £1,670,000. Accordingly, the extension of the term of the Convertible Loan Notes constitutes a related party transaction under Rule 13 of the AIM Rules.

 

The Directors other than Richard Cunningham consider, having consulted with Singer Capital Markets, the Company's Nominated Adviser, that the amended terms of the each of the Convertible Loan Note tranches are fair and reasonable in so far as Shareholders in the Company are concerned.

 

For further information please contact:

 

i-nexus Global plc Simon Crowther, CEO Drew Whibley, CFO	Via: Alma Strategic Communications
Singer Capital Markets (Nominated Adviser and Broker) Sandy Fraser / Alex Bond (Investment Banking)	Tel: [phone]
Alma Strategic Communications Caroline Forde/ Robyn Fisher	Tel: [phone]

 

About i-nexus Global plc

i-nexus Global plc ("i-nexus") helps organisations achieve their goals. Whether executing a strategy, driving operational excellence and continuous performance improvement, or coordinating portfolios and programs to transform results, i-nexus strategy execution software underpins success.

 

Today, we support organisations in managing over 200,000 strategic programmes around the world.

i-nexus transforms how organisations plan, execute, and track goals. We inspire the confidence to leave behind the spreadsheets, presentations and reports those organisations rely on, replacing it with a cloud-based, collaborative solution.

 

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