MiLOC Group Limited - Extension of Convertible Bond
RNS Number : 3837Q
MiLOC Group Limited
18 February 2019
 

18 February 2019

 

MiLOC GROUP LIMITED

("MiLOC" or "the Company")

 

Extension of Convertible Bond

 

 

MiLOC announces that it has entered into a further extension agreement for the Convertible Bond (the "CB") with Murray Investment Fund Company Limited (the "Investor") that was signed on 19 July 2016.

 

 

The revised terms on the CB are summarised below.

 

1.   The coupon payment of the CB of US$650,000 will be increased from 6 percent per annum to 7.2 percent per annum.

 

2.   The maturity date on the CB which was initially due on the 19th January 2019 will be extended to 19th January 2020.

 

3.   The Company's intention to delist from the NEX Exchange Growth Market and seek a listing through an IPO of its ordinary shares on the LSE (Standard segment of the Official List), has been amended to seeking a listing of its ordinary shares on a recognised stock exchange.

 

4.   The CB will be redeemable at maturity on 19th January 2020, or exchangeable into ordinary shares of the Company immediately on listing on an alternative recognised stock exchange.

 

5.   All other terms remain unchanged, as announced on 19 July 2016.

 

 

The directors of MiLOC accept responsibility for the contents of this announcement.

 

 

For further information, please contact:-

 

 

MiLOC

ONG Ban Poh Michael - Chief Executive Officer

 Ronnie CHOI - Chief Financial Officer

 

 

 

 

Tel: +852 2110 4221

 

NEX Exchange Corporate Adviser

PETERHOUSE CAPITAL LIMITED

Guy Miller

Mark Anwyl

 

Tel: +44 (0) 20 7469 0930

 


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