Business
Convertible Loan and Put Option Agreement
Convertible Loan and Put Option Agreement.
About this update from Rc365 Holding Plc
[{"type":"text","content":"\n \n \n 14 March 2023\n \n \n RC365 Holding Plc\n \n \n (\"RC365\" or the \"Company\")\n \n \n Convertible Loan and Put Option Agreement\n \n \n RC365 Holding Plc (\"RC365\"), a company focusing on payment gateway solutions and IT support, is pleased to announce that its subsidiary Regal Crown Technology Limited (\"Regal Crown\")(the \"Subscriber\"), has entered into a Convertible Loan Facility (\"Facility\") with Hong Kong Easy Charge Limited (\"HK Easy Charge\")(the \"Issuer\"). The Facility is in relation to 10% Convertible Loan due 30 April 2024 for an aggregated principle amount of HK$5,000,000 and convertible into new ordinary shares in HK Easy Charge. In addition, Regal Crown has entered into a Put Option and Deed of Guarantee in respect of the Facility.\n \n \n HK Easy Charge provides shared wireless power bank rental stations for users in Hong Kong that can be found in restaurants, hotels, shopping malls, and retail stores, enabling users to charge their phone in an effective and convenient way. HK Easy Charge intents to list its Ordinary Shares on the Hong Kong Stock Exchange.\n \n \n Facility\n \n \n The Key terms of the Facility:\n \n \n - \n The Convertible Loan Facility is for an aggregated principle amount of HK$5,000,000\n \n \n - HK$1,000,000 loan paid on or before 31 March 2023 by Regal Crown\n \n \n - \n The remaining HK$4,000,000, to be paid on or before 30th April 2023 by Regal Crown\n \n \n - Loan Facility is convertible into ordinary shares in HK Easy Charge\n \n \n - Completion shall take place on the 30th day following the date of this Facility\n \n \n - The Issuer shall use its best endeavours to procure the fulfilment of the Conditions no later than 30 days from the date of this Facility, and if any of the Conditions is not fulfilled or, if applicable, waived on or before such date, no Party shall be obliged to proceed to Completion.\n \n \n Completion shall be conditional upon:\n \n \n (i) all necessary authorisations pursuant to applicable Law for the consummation of the transactions having been obtained by the Issuer; and\n \n \n (ii) all Issuer's Warranties remaining true and accurate in all material respects and not misleading in any material respect, and all undertakings made by the Issuer not having been breached in any material aspect.\n \n \n Each...