Business
Circ re. Investing Policy, Proposed Placing & GM
Circ re. Investing Policy, Proposed Placing & GM.
About this update from Jade Road Investments Limited
[{"type":"text","content":"\n \n \n \n 31 January 2023\n \n \n \n \n JADE ROAD INVESTMENTS LIMITED\n \n \n \n (\"\n \n Jade Road Investments\n \n \", \"\n \n JADE\n \n \", the \"\n \n Company\n \n \" or the \"\n \n Group\n \n \")\n \n \n \n Circular, Notice of General Meeting, Change of Investing Policy and Proposed Placing\n \n \n \n \n \n \n \n \n Jade Road Investments Limited (AIM: JADE), the London quoted pan-Asian diversified investment vehiclefocused on providing shareholders with attractive uncorrelated, risk-adjusted long-term returns is pleased to\n announce today the publication of a circular\n \"\n \n Circular\n \n \"\n containing a notice of general meeting to be held at 10 am on Monday 20 February\n at 29/F Infinitus Plaza, 199 Des Voeux Road Central, Hong Kong\n .\n \n \n \n \n \n The Company is intending to raise equity finance of up to US$1,750,000 by issuing 191,256,831 new Ordinary Shares (\"NewOrdinary Shares\") at a price of £0.0075 per Ordinary Share (\"Issue Price\") (using a pre-determined exchange rate of US$1.22 to £1) (\"Equity Fundraise\"). The Equity Fundraise is being entirely underwritten by Heirloom, who has agreed to purchase any number of New Ordinary Shares not otherwise\n purchased by prospective placees introduced to the Company by the Placing Agent. \n \n \n \n \n \n Completion of the Equity Fundraise is conditional, inter alia, on all of the Resolutions being passed by the Shareholders\n at the general meeting. They are as follows:\n \n \n \n \n \n ·\n the waiver of the application of Article 46 (Takeover Provisions) to the Underwriting in its entirety (the \"Waiver Resolution\");\n \n \n ·\n the approval of the New Investing Policy;\n \n \n ·\n the adoption of an amended and restated Memorandum of Association; and\n \n \n ·\n the resolutions regarding the Company's shares, including the grant of authority to the Directors to buy back Ordinary Shares.\n \n \n \n \n \n The Circular\n provides the background and reasons for the Equity Fundraise, the waiver of Article 46 (Takeover Provisions), the proposed New Investing Policy, the adoption of an amended and restated Memorandum of Association and the reasons for the\n authority to allot and buy back Ordinary Shares.\n \n \n \n \n \n The Circular, which includes the notice of the General Meeting has been sent to shareholders ...