Loan Agreement with Innovative Eyewear Inc

Tekcapital plc

12 January 2024

 

The information contained within this announcement is deemed by the Company (Companies House registration number 08873361) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

12 January 2024

Tekcapital Plc

("Tekcapital", the "Company" or "the Group")

Loan Agreement with Innovative Eyewear Inc

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, announces that it has entered into a loan agreement with Innovative Eyewear Inc and Tekcapital Europe ltd, a wholly owned subsidiary of Tekcapital plc.

The amount of the loan is £600,000, the term of the loan is 90 days, and the annual interest rate is 10% (the "Loan"). The Loan is unsecured and is being used by Tekcapital to contribute towards the proposed placing and Admission to trading on AIM of MicroSalt plc.

Tekcapital currently owns approximately 87% of the share capital of MicroSalt plc and 92% of MicroSalt Inc. its U.S. subsidiary. 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

LEI: 213800GOJTOV19FIFZ85

For further information, please contact:

Tekcapital Plc		Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel  Corporate Finance LLP                                                         (Nominated Adviser and Broker)		[phone]
Richard Morrison / Charlie Bouverat (Corporate Finance) Rob Rees (Corporate Broking)

Flagstaff Strategic and Investor Communications                                    [phone]

Tim Thompson/Andrea Seymour/Fergus Mellon        

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving MicroSalt that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Tekcapital does not intend, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

 

END