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East Imperial plc
East Imperial PLC - Corporate Update
12th April 2024, 15:42
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RNS Number : 5056K
East Imperial PLC
12 April 2024
 

12 April 2024

East Imperial plc

("East Imperial" or the "Company")

Corporate Update

 

East Imperial plc, the global purveyor of super-premium beverages, has today received a Redemption Notice from INL Investment Limited ("INL") issued in connection with a Convertible Note Instrument dated 7 August 2023 (the 'Loan Notes') and a Deed of Share Charge dated 16 October 2023, first announced on 17 July 2023. Under the terms of the Redemption Notice, INL seeks immediate redemption of its Loan Notes totalling £2.2million, together with all interest due under the Loan Notes.

 

The Company is unable to meet this redemption liability and therefore the board is now in discussions with professional advisors in connection the Company's possible administration or liquidation, and with the FCA regarding the potential suspension of trading of the Company's shares on the Main Market of the London Stock Exchange.

 

The board will update shareholders on the Company's financial position as soon as possible.

 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

For further information, please contact:

East Imperial plc

Anthony Burt

 

investors@eastimperial.com

Allenby Capital Limited (Broker)

Guy McDougall / Matt Butlin (Sales and Corporate Broking)

Jeremy Porter / Piers Shimwell (Corporate Finance)

+44 (0)20 3328 5656

 

 

About East Imperial

 

Founded in New Zealand and Singapore in 2012, East Imperial produces a range of super-premium mixers that sell throughout APAC, the US and EMEA. Guided by a clear strategy to capitalise on the growing demand for premiumisation across the beverage industry, East Imperial has sold over 33 million bottles in over 20 countries since its founding, with popular products including Old World Tonic Water, Grapefruit Tonic Water, Yuzu Tonic Water and Mombasa Ginger Beer. In 2023, East Imperial won 8 medals at the coveted Tonic & Mixers Masters Competition in London.

 

The Company was founded on the philosophy of creating exquisite products defined by heritage, tradition, and authenticity. All products are made from the highest quality, all-natural ingredients, reflecting East Imperial's commitment to providing a sustainable product and minimising environmental impacts at every stage of the manufacturing process. For more information about East Imperial and its ultra-premium mixers.

 

Visit https://www.eastimperial.com/

 

 

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