01:52 Sat 25 Jan 2020
Shefa Gems Ltd - Convertible Loan Agreement
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Convertible Loan Agreement
Terms of the Loan
Pursuant to the Agreement, the Lender has agreed to provide a convertible loan for
The loan is also guaranteed by a personal guarantee given by the Company's CFO Mr.
As security for the Loan, following the second drawdown, the Lender will be issued with 3,411,620 new ordinary shares in the Company ("New Ordinary Shares"). These New Ordinary Shares will be issued to the Lender [but held as security by the Company during the Term of the Loan, ] with the intention that the Company will buy back the shares within 24 months at
In the event the Lender elects to keep the New Ordinary Shares, the Company will grant the Lender one unlisted warrant for every share received, exercisable for a period of 24 months from the date of the election, at a price of
The Loan Agreement contains a provision that in the event that the Lender sells any of the New Ordinary Shares issued to the Lender, the Company's obligation to repurchase the shares from the Lender will be canceled.
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Enquiries
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+44 20 7938 4026 |
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+44 20 3005 5000 |
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+44 20 3871 4038 / +44 1483 413500 |
Notes to Editors
About
All exploration activities are conducted under international standards and the internationally recognised SAMREC 2016 Code. Furthermore, its four (4) permits, granted to it by the Inspector of Mines,
Alongside its exploration activities, the Company is building on the launch of the "Heaven on Earth" jewellery collection and developing the Company's "Mine to Market" strategy to promote unique jewellery collections utilising
The exclusive "Heaven on Earth" collection is now available to view online on the website of the designer
For further information please visit the website at www.shefagems.com
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