Further secured loan provided to DG Innovate

RNS Number : 6483M

Path Investments plc

22 September 2021

 

22 September 2021

Path Investments plc
("Path" or the "Company")

Further secured loan provided to DG Innovate

Path Investments plc (TIDM: PATH) , is pleased to provide an update following the Company's announcement on 13 August 2021 that the Company had entered into a conditional sale and purchase agreement (the "Agreement") to acquire the entire issued share capital of DG Innovate Ltd ("DG Innovate") (the "Proposed Transaction").  As part of the Proposed Transaction Path provided a secured loan facility to DG Innovate of up to £600,000.  As previously announced, £300,000 was provided on the signing of the Agreement and the remaining £300,000 has today been provided to DG Innovate.

As previously announced, the Proposed Transaction is subject, inter alia, to the approval of Path's independent shareholders and waiver of Rule 9 of the Takeover Code by the Takeover Panel, together with the publication of a prospectus and the application by the Company to have its enlarged share capital listed on the Standard Segment of the Official List and admitted to trading on the Main Market of the London Stock Exchange.  Path and its advisers continue to progress these matters and further announcements will be made in due course, as appropriate.  In the meantime, Path's shares will remain suspended from trading on the London Stock Exchange.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

Path Investments plc	C/O IFC
Christopher Theis Jack Allardyce
IFC Advisory (Financial PR & IR)	020 3934 6630
Tim Metcalfe Zach Cohen
Grant Thornton UK LLP (Financial Adviser) Samantha Harrison Harrison Clarke Lukas Girzadas	020 7383 5100
ETX Capital (Broker)	020 7392 1400
Tom Curran
Thomas Smith

 

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