Client News
East Imperial PLC – Result of General MeetingEast Imperial, the global purveyor of ultra-premium beverages, is pleased to announce that all resolutions were passed at the General Meeting (“GM”) of the Company held earlier today.
At the GM, shareholders approved the allotment by the Directors of the 2025 Convertible Loan Notes and the dis-application of statutory pre-emption rights in respect of such allotment.
As announced on 17 July 2023, the Company is proposing to raise in aggregate £2.2 million (before expenses) by the issue of 10% Secured Convertible Loan Notes (“2025 Convertible
Loan Notes”) in two tranches to strategic investor Wen Hua International (“WHI”), the Company’s current Chinese Mainland and Macau distribution partner (the “Proposed Transaction”). The 2025 Convertible Loan Notes will be unlisted and no offer or invitation is being made to shareholders more generally to purchase, acquire or subscribe for any of the 2025 Convertible Loan Notes in conjunction with the Proposed Transaction.
The Company expects to close the first tranche of the investment over the next few days, with WHI raising £1,466,666, and a further announcement will be made in due course.
Result of General Meeting – 11:18:08 04 Aug 2023 – EISB News article | London Stock Exchange
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