CRUSHMETRIC Group Limited Issue of Convertible Bond (4530U)

TIDMCUSH

RNS Number : 4530U

CRUSHMETRIC Group Limited

28 March 2023

CRUSHMETRIC GROUP LIMITED

("CRUSHMETRIC" or "the Company")

Issue of Convertible Bond

CRUSHMETRIC Group Limited announces that it has entered into an unsecured convertible bond agreement (the "Bond") with Future Vision Pte. Ltd (the "Investor"). The Investor subscribed in cash for the Bond for a principal amount of SGD$250,000 (approximately GBP150,820) (the "Principal Amount"). The Investor has an option to top up the Principal Amount at anytime within three months from the date of issue. The Coupon will be at 10% and calculated on an annualised basis.

The Bond, at the election of the Investor, may be converted into ordinary shares (the "Underlying Shares") or redeemable according to the term sheet that is summarised below.

The proceeds of SGD$250,000 from the issue of the Bond will be used for general working capital purposes.

Convertible Bond principle terms:

 
 Instrument and        The Bond, when convertible into the 
  Underlying Shares:    Underlying Shares, will rank pari passu 
                        with all outstanding ordinary shares 
                        of the Company. 
 
 Maturity Date:        23rd February 2026. 
 
 Coupon:               Ten percent (10%) per annum which shall 
                        be payable by the Company annually 
                        in arrears after receipt of the Principal 
                        Amount. 
 
 Conversion Price:     The Bond shall be convertible into 
                        the Underlying Shares at a Conversion 
                        Price of GBP 0.2 per share where 50% 
                        of the Bond can be converted within 
                        the first year and the rest can be 
                        converted on the Maturity Date. 
 
 Redemption:           At Maturity, if not already converted 
                        into the Underlying Shares. 
 
 Redemption Price:     Unless previously redeemed, converted, 
                        or purchased and cancelled, the Company 
                        will redeem the Bond at its Principal 
                        Amount together with any accrued and 
                        unpaid interest thereon on the Maturity 
                        Date.

The Directors of the Company accept responsibility for the contents of this announcement.

For further information, please contact:-

 
 
  CRUSHMETRIC Group Limited 
  ONG Ban Poh Michael - Chief Executive Officer    Tel: +852 2110 4221 
  Lilian Lo - Acting Chief Financial Officer 
AQSE Growth Market Corporate Adviser             Tel: +44 (0) 20 7469 0930 
 PETERHOUSE CAPITAL LIMITED 
 Guy Miller 
 Mark Anwyl

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March 28, 2023 03:48 ET (07:48 GMT)

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