Business
Publication of a Prospectus
Publication of a Prospectus.
About this update from Fragrant Prosperity Holdings Ltd
[{"type":"text","content":"\n\n25 June 2025\n \nNOT 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 OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL. \n \nFragrant Prosperity Holdings Limited\n \n(\"FPP\" or the \"Company\")\n \n \nApproval and Publication of Prospectus\nFragrant Prosperity Holdings Limited (\"FPP\" or the \"Company\") is pleased to announce that, following the announcement on the 22 May 2025 regarding the fundraise for a gross amount of £1,000,000 (the \"Fundraise\"), a Prospectus has been approved by the Financial Conduct Authority (\"FCA\") and has been published by the Company today.\n \nDetails of the Fundraise as well as the issuance of other shares are set out in the Prospectus, which will shortly be available on the Company's website at https://fragrantprosperity.com.\n \nA copy of the Prospectus will be uploaded to the National Storage Mechanism and will be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.\n \nChairmans Comment:\n\"FPP is pleased to confirm the approval and publication of the Prospectus for the recently announced fundraise, which, combined with the capitalisation of certain debts, places the Company in a strong position to execute its chosen strategy. The Company is now materially debt free apart from certain trade creditors, removing a significant barrier that has hung over the Company. It's a buoyant time in certain areas of the market and we are optimistic that technology and specifically AI driven fintech will see significant opportunities. I look forward to the next steps and updating the market in due course\"\n \nRecapitalisation of the balance sheet\nAs previously announced on the 17th April 2025, the Company entered into agreements to refinance the Convertible Loan Notes (\"CLNs\") held on its balance sheet by raising a new CLN, as well as certain CLN holders (representing 78% of the previously outstanding CLNs) waiving any accrued interest, and the conversion of 75% of the original amount advanced into equity following the publication of a prospectus in full and final settlement of the CLNs. Given the approval and publication of a...