Business
Share Authorities, Circular & Notice of GM
Share Authorities, Circular & Notice of GM.
About this update from Bow Street Group Plc.
[{"type":"text","content":"\n\n1 July 2024\nTasty plc\n(\"Tasty\" or the \"Company\")\n \nProposed Share Allotment Authorities,\nPosting of Circular and Notice of General Meeting\n \nFurther to the Company's announcement on 9 April 2024, Tasty confirms that it has agreed to amend and restate the original loan agreement entered into on 8 April 2024 for up to £750,000 with a secured creditor (the \"Loan\"). The new terms allow for the conversion of the whole of the principal amount of the Loan, being £750,000, into 51,369,863 new ordinary shares of £0.001 each in the capital of the Company (the \"Conversion Shares\") at a price of £0.0146 per Conversion Share (the \"Conversion\"). \n \nThe Conversion is subject to, and conditional on, shareholder approval as it is necessary for the Directors to obtain the requisite share allotment authorities from the Company's shareholders in order to give the Directors the authority to allot the Conversion Shares and to disapply the statutory pre-emption rights in respect of the allotment of the Conversion Shares.\n \nA circular containing a notice of general meeting (the \"Circular\") was despatched to the Company's shareholders (the \"Shareholders\") today in relation to the Conversion. A copy of the Circular and the notice of general meeting is available on the Company's website at https://dimt.co.uk/investor-relations/. The general meeting will be held at 10.15 a.m. on 22 July 2024 (or as soon as practicable thereafter following the conclusion of the Annual General Meeting of the Company convened for 10.00 a.m. on 22 July 2024) at Wildwood Restaurant, 35-36 Bow Street, London WC2E 7AU (the \"General Meeting\").\n \nBackground to, and reasons for, the General Meeting\n \nAs announced on 9 April 2024, in order to fund the Company's proposed restructuring plan that was subsequently sanctioned by the Court on 4 June 2024, the Company entered into a loan agreement dated 8 April 2024 (the \"Loan Agreement\") with Will Roseff (the \"Lender\"), a UK-based high net worth investor, for an amount of up to £750,000 plus interest. The full amount of £750,000 was drawn-down by the Company under the Loan Agreement on 9 April 2024.\nThe parties to the Loan Agreement (the \"Parties\") have agreed to amend the Loan Agreement by entering into an amendment and restatement which will amend and restate th...