Business
Issue of Convertible Loan Notes
Issue of Convertible Loan Notes.
About this update from Rentguarantor Holdings Plc
[{"type":"text","content":"\n\n \n18 August 2023\nRentGuarantor Holdings PLC\n \n (the \"Company\" or \"RentGuarantor\")\n \nIssue of Convertible Loan Notes\n \nRentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socio-economic spectrum wishing to rent property in the UK private rental sector, is pleased to announce that a total of £200,000 has been raised through the issue of 6% coupon unsecured convertible loan notes 2022 (the \"Notes\"). Paul Foy, CEO of RentGuarantor, has subscribed to Notes in an amount of £50,000. The Board is satisfied that the amount raised is sufficient for the Company's current requirements.\n \nInterest on the Notes accrues yearly at 6%. Such interest to be paid on the first year anniversary of the deed entered into by the Company on 16 August 2023 (the \"Deed\").\n \nThe Company may convert the principal sum into fully paid Ordinary Shares at the lower of the share price of the Ordinary Shares of the Company on the day falling 10 business days after the service of a conversion notice (such notice to be served no later than 15 August 2024) (the \"Conversion Date\") and the average price of the Ordinary Shares traded on the Aquis Stock Exchange (or other applicable stock exchange) when calculated across the sixty consecutive days prior to the Conversion Date.\n \nThe Notes, if not converted, are to be redeemed at the principal amount together with a redemption premium of £0.10 for every £1 of the principal amount, and pro rata for any larger or smaller amount on the first anniversary of the Deed.\n \nThe proceeds of all subscriptions for the Notes will be used to fund the Company's current working capital and capital expenditure requirements.\n \nThe directors of RentGuarantor accept responsibility for this announcement.\n \n**ENDS**\n \nFor further information please contact:\nRentGuarantor Holdings PLC\nPaul Foy, Chief Executive Officer &nbs...