SuperSeed Capital Limited Issue of Convertible Loan Notes (6654Z)

TIDMWWW

RNS Number : 6654Z

SuperSeed Capital Limited

16 September 2022

SuperSeed Capital Limited

("SuperSeed Capital" or the "Company")

Issue of Convertible Loan Notes

SuperSeed Capital Limited, a company established as a Venture Capital fund of funds for early-stage technology investing, is pleased to announce that it has established a GBP1m loan facility through the issue of convertible loan notes (the "Convertible Loan Notes") to SuperSeed Venture LLP ("Noteholder"), SuperSeed Ventures LLP acts as SuperSeed Capital's investment manager.

The proceeds of the Convertible Loan Notes shall be used to fund the Company's working capital and capital expenditure requirements for the time being.

The Convertible Loan Notes together with accrued interest are redeemable on 14 September 2024 ("Redemption Date").

The Convertible Loan Notes shall automatically convert, in part or in full, at any time from the date of issue until the Redemption Date, into fully paid ordinary shares in the Company ("Share") at a price of GBP1.30 per Share ("Conversion Price") on written notice of the Noteholder ("Conversion Notice").

Interest shall be payable on any outstanding Convertible Loan Notes at a rate expected to be 10% - 15% per annum (subject to changing market rates) calculated on the basis of a 365-day year and the actual number of days elapsed from the date of issue of the Convertible Loan Notes to the Redemption Date

Related Party Transaction

Mads Jensen is a director and a shareholder of the Company, and a director of SuperSeed Ventures. The issue of the Convertible Loan Notes therefore constitutes a related part transaction for the purpose of Rule 4.6 of the AQSE Rules for Companies ("Related Party Transaction").

Joe Truelove Sr. and Andy Hatton, are considered independent for the purposes of considering and approving the terms of the transaction on behalf of the Board (the "Independent Directors"). The Independent Directors have considered the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.

   For more information, please visit       www.superseed.com    or contact: 
 
 SuperSeed Capital Limited                                 +44(0)20 3405 3060 
 Mads Jensen, Investment Manager 
 VSA Capital - AQSE Corporate Adviser and Broker           +44(0)20 3005 5000 
 Corporate Finance: Andrew Raca 
  Corporate Broking: Andrew Monk, Peter Mattsson, David 
  Scriven

Notes to Editors

SuperSeed Capital Limited is listed on the Aquis Stock Exchange in February 2022 and will be investing as a limited partner of SuperSeed Ventures' LLP second fund, SuperSeed Ventures II LP ("Fund II"). The Company may also invest in other investment funds managed or advised by SuperSeed Ventures or any affiliate of SuperSeed Ventures or other investment funds managed or advised by third parties other than SuperSeed Ventures.

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September 16, 2022 02:00 ET (06:00 GMT)

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