Partial Conversion of Loan Note in Rogue Baron

RNS Number : 5949M

Gunsynd PLC

22 January 2021

 

Gunsynd plc

("Gunsynd" or the "Company")

Partial Conversion of Loan Note in Rogue Baron

Gunsynd Plc (AIM: GUN, AQSE: GUN) announces the following update regarding Rogue Baron Ltd ("Rogue Baron"), a premium spirits company in which Gunsynd holds a convertible loan note ("Loan Note").

As part of the listing process on the Aquis Stock Exchange (AQSE) Growth Market, Gunsynd has agreed to the conversion of £396,635 of the Loan Note into 10,000,000 ordinary shares in Rogue Baron at a price of £0.0397 per share, representing approximately 19.7% of the current issued share capital of Rogue Baron.

Gunsynd intends to convert the remainder of the Loan Note upon admission of Rogue Baron's shares to trading on AQSE. The conversion of the remainder of the Loan Note would be at such price as would affect the average conversion price of the whole Loan Note, with the effect being that Gunsynd would convert the entire Loan Note at an average price per share determined by dividing £1,616,304 (representing the agreed valuation of the ordinary share capital of Rogue Baron) by the total number of ordinary shares in Rogue Baron in issue on IPO.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events.  Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

The Directors of Gunsynd accept responsibility for this announcement.

For further information please contact:

Gunsynd plc Hamish Harris/ Peter Ruse	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray / Mark Rogers	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

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