16 December 2021
Rutherford Health Plc
Loan Agreement Secured
On 31 August 2021 Rutherford Health plc (AQSE: RUTH, the "Company"), a leading
In the announcement of the interim results for the period to 31 August 2021 the Company reported that it would require additional working capital should the SDI placing not complete and that it was exploring a number of options.
Since that announcement, the Schroder
The Loan will be provided in two tranches of
By virtue of their each having a substantial shareholding in the Company, the participation in the Transaction by SUPPT constitutes a related party transaction under Rule 4.6 of the AQSE Growth Market Apex Rulebook. It is providing
In addition, the Company received a commitment from LF Equity Income Fund (LF EIF) where it has resolved to provide a convertible loan facility of
In due course, the Company will post a circular to shareholders to convene a General Meeting in order to seek authority from shareholders to allot new Ordinary Shares on a non-pre-emptive basis to satisfy the terms of the Proposed Facility.
The Company intends to appoint an investment bank in due course to source additional long-term funding to strengthen the business as it grows revenues in its existing facilities. The Loan and the Proposed Facility will provide the Company with sufficient working capital for the period of the Loan while the Company sources additional long-term funding.
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "
-Ends-
For more information, please contact:
Rutherford Health plc |
Tel: +44 (0) 16 3381 0661 |
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Investors@therutherford.com |
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Grant Thornton (Corporate Adviser) |
Tel: +44 (0) 20 7383 5100 |
Colin Aaronson/ George Grainger |
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Instinctif Partners |
Tel: +44 207 457 2020 |
Melanie Toyne-Sewell / Jeremy Durrant / Rozi Morris |
Rutherford@Instinctif.com |
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Media House International |
Tel: 07788 414 856 or 0207 710 0020 |
Ramsay Smith |
ramsay@mediahouse.co.uk |
About Rutherford Health plc
Rutherford Health plc is a leading
The Group is listed on the Apex segment of the AQSE Growth Market under the symbol: RUTH. For more information, visit the Group's website: www.rutherfordhealth.com .
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