Business
Agreement of Shareholder Loan
Genedrive plc has secured a shareholder loan of up to £1.0 million from significant shareholder David Nugent, structured in two £500,000 tranches. The first tranche, available immediately and without fees, is expected to extend the company's cash runway into February 2026, while the second tranche, available from February 20, 2026, will incur a £50,000 fee. This loan, secured against all company assets for a maximum of twelve months, is intended by Mr. Nugent to be converted into equity during a future fundraising, with the Directors deeming the arrangement fair and reasonable for shareholders. Disclaimer*
About this update from Genedrive Plc
[{"type":"text","content":"\n\n \nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF REGULATION (EU) NO 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE (MARKET ABUSE REGULATION) AS RETAINED AS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED.\n \nUPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \ngenedrive plc\n(\"genedrive\" or the \"Company\")\n \nAgreement of Shareholder Loan\n \ngenedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, is pleased to announce that further to the announcement of 19 November 2025 confirming that heads of term had been agreed for a potential shareholder loan (the \"Loan\") from David Nugent, a significant shareholder in the Company, the Company is pleased to confirm today that definitive agreements have now been signed for the Loan.\n \nFurther terms of the Loan and Related Party Transaction\n \nThe Company and David Nugent have entered into a Loan Agreement for up to £1.0 million in value (the \"Loan\"). The Loan is available to be drawn in two equal tranches of £500,000. The first tranche shall be requested imminently and shall not attract any commitment fee, interest or charges. The first tranche is expected to extend the Company's cash runway into February 2026. The second tranche will be available to be drawn down at the request and discretion of the Company on or after 20 February 2026 (or such other date as may be agreed between the Company and David Nugent). Draw down of the second tranche would incur a fixed fee of £50,000 which shall be added to the amount of principal and would need to be repaid upon repayment or conversion of the second tranche. The loan shall be secured by the grant of a debenture over all the Company's assets and is for a maximum period of twelve months. David Nugent currently int...