Business
Results of General Meeting
Results of General Meeting.
About this update from Jade Road Investments Limited
[{"type":"text","content":"\n \n \n \n \n \n 21 February 2023\n \n \n \n RNS\n \n \n \n \n JADE ROAD INVESTMENTS LIMITED\n \n \n \n (\"Jade Road\" or the \"Company\")\n \n \n \n Results of General Meeting\n \n \n \n Jade Road is pleased to announce that at the Company's General Meeting held yesterday, Monday 20 February 2023, all resolutions put to Shareholders were duly passed.\n \n \n Following the Company's announcement yesterday at 7:00 am, the Directors have authorised the allotment of a total of 201,996,350 New Ordinary Shares, conditional on admission to trading on the AIM market of the London Stock Exchange plc (\"AIM\"), comprised of:\n \n \n ·\n 20,046,667 New Ordinary Shares to placees;\n \n \n ·\n 171,210,164 New Ordinary Shares to the Underwriter pursuant to its commitment in the Underwriting Agreement;\n \n \n ·\n 8,560,508 New Ordinary Shares to the Underwriter in settlement of underwriting commission pursuant to the terms of the Underwriting Agreement; and\n \n \n ·\n 2,179,011 New Ordinary Shares to the Investment Manager as consideration for services provided under a services agreement between the Company and the Investment Manager, as approved pursuant to a meeting of the Board on 14 September 2021.\n \n \n Pursuant to the terms of the Underwriting Agreement, a further 1,002,333 Underwriter Warrants have been issued to the Underwriter in settlement of commission on the Placing Proceeds.\n \n \n The Underwriting Agreement was entered into between the Company and the Underwriter on 30 January 2023. Pursuant to the terms of the Underwriting Agreement, the Underwriter conditionally agreed to underwrite the entirety of the US$1,750,000 to be raised under the Equity Fundraise for a fee comprising (i) 5% of an amount equalling US$1,750,000 less the Gross Placing Proceeds, to be satisfied by the issue of such number of new Ordinary Shares at the Issue Price as shall equal that amount, and (ii) 5% of the Gross Placing Proceeds, to be satisfied by the grant of the resulting number of Underwriter Warrants at an exercise price per Ordinary Share equalling the Issue Price, to be exercisable over a three-year period from the date of grant. Details of the number of Ordinary Shares and Warrants to be issued to the Underwriter are set out as above. Following the passing of the resolutions at today's General Meeting, the Underwriting Agree...