TIDMZAMZ
RNS Number : 4811S
Zamaz PLC
09 March 2023
9 March 2023
Zamaz plc
("Zamaz" or "the Company")
Adjournment of a Meeting of the holders of the Company's EUR
3,000,000 6% Fixed Rate Bonds due 30 April 2023 (ISIN
GB00BL96TV97)
&
Notice of re-convened Meeting
On 17 February 2023, Zamaz plc (LSE: ZAMZ), the London-based
international e-commerce and retail technology aggregator of
sustainable brands, announced that it was convening a meeting of
the holders of the Company's EUR 3,000,000 6% Fixed Rate Bonds due
30 April 2023 ("the 6% Bonds"), ISIN GB00BL96TV97, to be held at
9.00am, today, 9 March 2023.
The Meeting was, however, not deemed quorate under the Terms and
Conditions of the Bond Instrument and was adjourned. It has been
reconvened for 9.00 am on 21 March 2023 at 50, Sloane Avenue,
London, SW3 3DD.
The notice of reconvened meeting, together with an amended
Consent Solicitation Memorandum, is being sent to bondholders
today. The notice requests bondholders to consider and, if thought
fit, approve a proposal to modify the terms and conditions of the
6% Bonds by way of an extraordinary resolution.
The extraordinary resolution to be put to bondholders seeks
approval for:
-- the maturity of the 6% Bonds to be extended to 30 April 2026 from 30 April 2023; and
-- an increase in the Nominal Value of the bonds to up to EUR 15,000,000 from EUR 3,000,000; and
-- the Rate of Interest to be increased to 7.5 per cent. from 6.0 per cent per annum.
Should the changes be approved, bondholders will be issued
warrants to subscribe for new Zamaz shares in an amount equal to
the par value of bonds held at the time of grant of the warrants
divided by the GBP0.11 strike price of the warrant, plus a further
number of Zamaz shares at a deemed issue price of nominal value,
representing a 10% conversion premium. The duration of the warrants
will be three years from the implementation date. They will be
fully transferrable.
The Company will issue a further announcement on the outcome of
the bondholders' reconvened meeting following its conclusion.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Zamaz plc
Martin Groak, Chairman info@zamaz.tech
c/o Walbrook PR Limited
Walbrook PR Limited +44 20 7933 8780 or +44 07 768807631
Paul Vann/Nick Rome/Joe Walker zamaz@walbrookpr.com
About Zamaz plc:
Zamaz plc is a technology driven e-commerce business that
originates, acquires or licenses, operates and scales small and
medium-sized brands with category-winning products on global
marketplaces. With ever prolific customer data sources, the advent
of turnkey e-commerce website platforms, such as Shopify, and a
thriving ecosystem of third-party software integrators, the options
available to launch and build brands that can be marketed, sold,
and shipped online quickly and globally with limited risk have
never been more compelling. Such marketplaces, led by Amazon and
eBay, also provide connection to millions of consumers, and have
become a first-choice route-to-market for a generation of micro and
small and medium-sized enterprise businesses.
Zamaz mines and analyses data from such online retail technology
platforms which provide significant insights into consumer shopping
behaviour and trends and enable the business to deploy, market and
sell an optimised portfolio of brands, products, packs and prices
aligned with active, real-time consumer needs and demands
principally on UK and EU Amazon marketplaces.
About Bella Dispensa:
Bella Dispensa, a wholly-owned subsidiary of Zamaz, is an
Italian-based online retailer of gourmet Italian food products
which operates in one of the fastest growing online sectors,
grocery shopping. The extensive relationships that Bella Dispensa
enjoys with its niche food suppliers makes it a strong addition to
the Zamaz Brand Portfolio and will give Zamaz the opportunity to
showcase and sell Bella Dispensa sourced products on its online
platform.
Bella Dispensa has already made three acquisitions since Zamaz
listed on the Main Market of the London Stock Exchange; the first
two in H2 2022: Ecocarni, a purveyor of premium quality meats and
associated products sourced from Italy and Argentina to both
wholesale and retail customers, from its flagship store in Milan
and Eccellenze S.r.l. which has a retail store located on Milan's
prestigious Corso Venezia, one of the city's most exclusive and
elegant avenues, being part of the upscale Quadrilatero della moda
shopping district. Recently established in Q4 2021, Eccellenze has
grown rapidly, and now offers over 1,000 premium quality food
products in-store, including cheese, pasta, wine and oil. Its
highly experienced management team has also developed a unique
eno-gastronomic "lifestyle shopping experience" for its growing,
highly discerning client base.
Most recently, Bella Dispensa has acquired Dallate Italia srl.
Dallatte, based in Piedmont, Italy, is a manufacturer and
distributor of premium dairy products using natural ingredients
including ice cream and pastries, milk, butter and cooking cream,
fresh and dry pastries and frozen filled pasta. The Dallatte brand
is synonymous with "Italian Food Excellence" and has distribution
outlets across Europe.
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END
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March 09, 2023 09:00 ET (14:00 GMT)
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